Charles River Laboratories Intl. (NYSE:CRL) Downgraded to Hold at Zacks Investment Research

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Charles River Laboratories Intl. (NYSE:CRL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Charles River Laboratories International, Inc. provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Their dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. At Charles River, they are passionate about their role in improving the quality of people’s lives. Their mission, their excellent science and strong sense of purpose guide in all that they do, and they approach each day with the knowledge that their work helps to improve the health and well-being of many across the globe. Charles River Laboratories International, Inc. service areas are Basic research, discovery, safety and efficacy, clinical support and manufacturing. “

Several other equities analysts have also commented on CRL. Goldman Sachs Group upgraded shares of Charles River Laboratories Intl. from a “neutral” rating to a “buy” rating and increased their price target for the company from $143.00 to $179.00 in a research note on Friday, January 10th. Argus reiterated a “buy” rating and issued a $170.00 price target on shares of Charles River Laboratories Intl. in a research note on Tuesday, November 19th. Morgan Stanley increased their price target on shares of Charles River Laboratories Intl. from $156.00 to $176.00 and gave the company an “equal weight” rating in a research note on Wednesday. Bank of America lowered shares of Charles River Laboratories Intl. from a “buy” rating to a “neutral” rating and set a $150.00 price target on the stock. in a research note on Friday, October 18th. Finally, Wells Fargo & Co started coverage on shares of Charles River Laboratories Intl. in a research report on Tuesday, January 7th. They set an “overweight” rating and a $180.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Charles River Laboratories Intl. has a consensus rating of “Buy” and an average target price of $169.33.

Shares of Charles River Laboratories Intl. stock opened at $176.48 on Thursday. The firm has a market capitalization of $8.44 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.91 and a beta of 1.18. Charles River Laboratories Intl. has a 52 week low of $123.17 and a 52 week high of $176.89. The company has a quick ratio of 1.20, a current ratio of 1.44 and a debt-to-equity ratio of 1.20. The firm’s 50 day moving average is $157.46 and its two-hundred day moving average is $141.17.

Charles River Laboratories Intl. (NYSE:CRL) last announced its quarterly earnings results on Tuesday, February 11th. The medical research company reported $2.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.18. The company had revenue of $691.10 million for the quarter, compared to analyst estimates of $685.46 million. Charles River Laboratories Intl. had a net margin of 9.61% and a return on equity of 22.17%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.49 earnings per share. As a group, research analysts expect that Charles River Laboratories Intl. will post 7.54 earnings per share for the current fiscal year.

In other news, VP Birgit Girshick sold 1,051 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $145.55, for a total transaction of $152,973.05. Following the transaction, the vice president now directly owns 18,728 shares in the company, valued at $2,725,860.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP William D. Barbo sold 6,901 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $172.11, for a total transaction of $1,187,731.11. Following the transaction, the vice president now owns 18,931 shares in the company, valued at $3,258,214.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,622 shares of company stock worth $3,328,849. Insiders own 1.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Squar Milner Financial Services LLC lifted its holdings in shares of Charles River Laboratories Intl. by 253.2% during the third quarter. Squar Milner Financial Services LLC now owns 219 shares of the medical research company’s stock worth $28,000 after purchasing an additional 157 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in shares of Charles River Laboratories Intl. during the third quarter worth $33,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Charles River Laboratories Intl. during the fourth quarter worth $34,000. Valeo Financial Advisors LLC lifted its holdings in shares of Charles River Laboratories Intl. by 239.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 241 shares of the medical research company’s stock worth $37,000 after purchasing an additional 170 shares during the period. Finally, CNB Bank acquired a new stake in shares of Charles River Laboratories Intl. during the fourth quarter worth $41,000. Institutional investors and hedge funds own 95.78% of the company’s stock.

Charles River Laboratories Intl. Company Profile

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates in three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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