Charles River Laboratories International (NYSE:CRL) Rating Lowered to Sell at Citigroup

Citigroup downgraded shares of Charles River Laboratories International (NYSE:CRL) from a neutral rating to a sell rating in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has $175.00 price objective on the medical research company’s stock, down from their prior price objective of $215.00.

Other equities analysts have also recently issued reports about the company. Barclays cut their target price on Charles River Laboratories International from $230.00 to $210.00 and set an equal weight rating on the stock in a report on Thursday, August 8th. Mizuho initiated coverage on shares of Charles River Laboratories International in a research report on Friday, June 7th. They issued a neutral rating and a $235.00 price target on the stock. StockNews.com upgraded Charles River Laboratories International from a hold rating to a buy rating in a research note on Tuesday, August 20th. Robert W. Baird lowered their price objective on Charles River Laboratories International from $191.00 to $190.00 and set a neutral rating for the company in a research note on Friday, September 20th. Finally, TD Cowen cut their target price on Charles River Laboratories International from $228.00 to $203.00 and set a hold rating on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Charles River Laboratories International currently has an average rating of Hold and an average target price of $220.25.

Charles River Laboratories International Trading Up 0.6 %

NYSE:CRL opened at $190.72 on Tuesday. Charles River Laboratories International has a 52 week low of $161.65 and a 52 week high of $275.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58. The firm’s fifty day moving average is $204.77 and its 200-day moving average is $219.88. The firm has a market cap of $9.82 billion, a P/E ratio of 22.44, a P/E/G ratio of 4.09 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.41. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. Equities analysts expect that Charles River Laboratories International will post 10.01 earnings per share for the current year.

Charles River Laboratories International announced that its board has initiated a share repurchase program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its position in shares of Charles River Laboratories International by 499.1% during the 4th quarter. Point72 Asset Management L.P. now owns 368,984 shares of the medical research company’s stock valued at $87,228,000 after buying an additional 307,398 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings in Charles River Laboratories International by 2,733.4% during the first quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company’s stock valued at $67,060,000 after purchasing an additional 238,766 shares during the last quarter. Marshall Wace LLP boosted its position in Charles River Laboratories International by 24.6% during the second quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company’s stock worth $170,615,000 after purchasing an additional 163,056 shares during the period. 1832 Asset Management L.P. purchased a new position in shares of Charles River Laboratories International in the second quarter worth about $33,053,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Charles River Laboratories International by 11.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,251,618 shares of the medical research company’s stock valued at $258,559,000 after purchasing an additional 132,802 shares during the period. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

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).