Charles River Laboratories International (NYSE:CRL) Price Target Cut to $240.00

Charles River Laboratories International (NYSE:CRL) had its price target cut by equities research analysts at UBS Group from $290.00 to $240.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. UBS Group’s price objective points to a potential upside of 19.42% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen reduced their price target on shares of Charles River Laboratories International from $260.00 to $228.00 and set a “hold” rating on the stock in a research report on Monday, May 13th. Mizuho assumed coverage on shares of Charles River Laboratories International in a research note on Friday, June 7th. They set a “neutral” rating and a $235.00 target price for the company. Argus reaffirmed a “hold” rating on shares of Charles River Laboratories International in a research note on Friday, June 28th. The Goldman Sachs Group reduced their target price on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a report on Thursday. Finally, Robert W. Baird downgraded shares of Charles River Laboratories International from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $239.00 to $191.00 in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $232.79.

Charles River Laboratories International Price Performance

Charles River Laboratories International stock traded down $0.96 during mid-day trading on Thursday, hitting $200.97. 1,060,174 shares of the company traded hands, compared to its average volume of 581,319. Charles River Laboratories International has a one year low of $161.65 and a one year high of $275.00. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 2.32 and a beta of 1.38. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.37 and a current ratio of 1.75. The stock has a fifty day moving average price of $214.99 and a 200-day moving average price of $231.28.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Thursday, May 9th. The medical research company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.22. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $997.24 million. Charles River Laboratories International had a net margin of 10.81% and a return on equity of 15.16%. On average, equities analysts predict that Charles River Laboratories International will post 10.99 earnings per share for the current fiscal year.

Charles River Laboratories International declared that its Board of Directors has approved a share buyback plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Tortoise Investment Management LLC grew its holdings in shares of Charles River Laboratories International by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 57 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Charles River Laboratories International during the first quarter valued at about $41,000. VisionPoint Advisory Group LLC grew its position in Charles River Laboratories International by 45.1% in the 4th quarter. VisionPoint Advisory Group LLC now owns 209 shares of the medical research company’s stock worth $49,000 after purchasing an additional 65 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Charles River Laboratories International by 76.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical research company’s stock valued at $52,000 after acquiring an additional 95 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Charles River Laboratories International by 219.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after buying an additional 193 shares during the period. Institutional investors and hedge funds own 98.91% of the company’s stock.

About Charles River Laboratories International

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).