Charles River Laboratories International (NYSE:CRL) Stock Gets Price Target Increase from Barclays

Charles River Laboratories International (NYSE:CRL – Get Free Report) had its price objective upped by Barclays from $330.00 to $375.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective would indicate a potential upside of 18.24% from the stock’s current price.

CRL has been the subject of several other reports. JPMorgan Chase & Co. upgraded Charles River Laboratories International from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $180.00 to $310.00 in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles River Laboratories International from $300.00 to $320.00 and gave the company a “buy” rating in a report on Friday, September 25th. Argus set a $330.00 target price on shares of Charles River Laboratories International in a research note on Thursday, September 17th. Zacks Research cut Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Jefferies Financial Group boosted their price target on Charles River Laboratories International from $305.00 to $340.00 and gave the company a “buy” rating in a report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $304.83.

Check Out Our Latest Report on CRL

Charles River Laboratories International Trading Down 2.8%

CRL stock traded down $9.15 during midday trading on Thursday, reaching $317.14. The company’s stock had a trading volume of 843,172 shares, compared to its average volume of 962,260. The business’s 50-day simple moving average is $304.55 and its 200-day simple moving average is $224.12. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.92. Charles River Laboratories International has a 52 week low of $146.20 and a 52 week high of $379.63. The stock has a market cap of $15.14 billion, a PE ratio of -65.72, a price-to-earnings-growth ratio of 3.29 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL – Get Free Report) last posted its earnings results on Wednesday, November 4th. The medical research company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.12. The company had revenue of $982.73 million during the quarter, compared to analyst estimates of $960.36 million. Charles River Laboratories International had a positive return on equity of 15.75% and a negative net margin of 5.96%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.43 EPS. As a group, sell-side analysts expect that Charles River Laboratories International will post 11.38 EPS for the current year.

Insider Buying and Selling at Charles River Laboratories International

In other news, Director James Foster sold 24,042 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $350.00, for a total transaction of $8,414,700.00. Following the completion of the sale, the director owned 31,596 shares of the company’s stock, valued at approximately $11,058,600. This represents a 43.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Shannon M. Parisotto sold 2,156 shares of Charles River Laboratories International stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $344.41, for a total value of $742,547.96. Following the completion of the transaction, the executive vice president owned 4,807 shares in the company, valued at approximately $1,655,578.87. The trade was a 30.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 102,299 shares of company stock valued at $31,050,863 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Charles River Laboratories International

Institutional investors and hedge funds have recently bought and sold shares of the company. Amundi lifted its holdings in shares of Charles River Laboratories International by 175.2% during the first quarter. Amundi now owns 773,315 shares of the medical research company’s stock worth $133,397,000 after purchasing an additional 492,301 shares during the period. Dimensional Fund Advisors LP raised its position in Charles River Laboratories International by 14.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,652,484 shares of the medical research company’s stock worth $285,001,000 after purchasing an additional 210,260 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Charles River Laboratories International by 230.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,537 shares of the medical research company’s stock worth $59,044,000 after buying an additional 142,716 shares during the period. Retirement Systems of Alabama grew its position in shares of Charles River Laboratories International by 1,246.1% in the 3rd quarter. Retirement Systems of Alabama now owns 136,211 shares of the medical research company’s stock valued at $40,184,000 after buying an additional 126,092 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Charles River Laboratories International by 2,268.2% in the third quarter. State of Alaska Department of Revenue now owns 111,781 shares of the medical research company’s stock valued at $32,977,000 after buying an additional 107,061 shares during the period. Institutional investors and hedge funds own 98.91% of the company’s stock.

Key Headlines Impacting Charles River Laboratories International

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About Charles River Laboratories International

(Get Free Report)

Charles River Laboratories International, Inc is a contract research and laboratory services company that supports pharmaceutical, biotechnology, medical device and academic research organizations. The company provides products and services used throughout the drug-development process, from early discovery and research through preclinical testing and manufacturing support.

Its offerings include research models, laboratory animal management, discovery and safety assessment services, toxicology testing, bioanalysis, and support for biologic, cell and gene therapy programs.

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