Charles River Laboratories International (NYSE:CRL) Cut to “Inline” at Evercore ISI

Evercore ISI cut shares of Charles River Laboratories International (NYSE:CRL) from an outperform rating to an inline rating in a research report report published on Monday morning, MarketBeat reports. Evercore ISI currently has $190.00 target price on the medical research company’s stock, down from their previous target price of $225.00.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Charles River Laboratories International from $290.00 to $250.00 and set a buy rating on the stock in a report on Thursday, August 8th. Baird R W lowered shares of Charles River Laboratories International from a strong-buy rating to a hold rating in a report on Thursday, August 8th. Argus reissued a hold rating on shares of Charles River Laboratories International in a report on Friday, June 28th. TD Cowen lowered 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. Finally, Robert W. Baird dropped 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. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $217.33.

Charles River Laboratories International Trading Up 2.0 %

Shares of Charles River Laboratories International stock opened at $191.43 on Monday. Charles River Laboratories International has a 12-month low of $161.65 and a 12-month high of $275.00. The company has a market cap of $9.86 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 4.09 and a beta of 1.36. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average price is $199.62 and its 200-day moving average price is $217.12.

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

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Czech National Bank grew its holdings in Charles River Laboratories International by 0.5% during the 1st quarter. Czech National Bank now owns 9,025 shares of the medical research company’s stock worth $2,445,000 after acquiring an additional 41 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Charles River Laboratories International by 1.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 4,424 shares of the medical research company’s stock worth $914,000 after purchasing an additional 45 shares during the period. American Trust grew its stake in shares of Charles River Laboratories International by 5.9% during the 2nd quarter. American Trust now owns 976 shares of the medical research company’s stock worth $202,000 after purchasing an additional 54 shares during the period. Tortoise Investment Management LLC grew its stake in shares of Charles River Laboratories International by 77.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after purchasing an additional 57 shares during the period. Finally, Dumont & Blake Investment Advisors LLC grew its stake in Charles River Laboratories International by 1.4% in the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 4,415 shares of the medical research company’s stock valued at $1,196,000 after acquiring an additional 62 shares during the period. 98.91% of the stock is currently owned by 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).