Charles River Laboratories International (NYSE:CRL) Now Covered by Redburn Atlantic

Redburn Atlantic assumed coverage on shares of Charles River Laboratories International (NYSE:CRL) in a research report report published on Monday morning, Marketbeat Ratings reports. The brokerage issued a sell rating and a $151.00 target price on the medical research company’s stock.

Several other equities research analysts have also weighed in on the company. StockNews.com lowered Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Argus reissued a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th. UBS Group dropped their target price on Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. TD Cowen dropped their target price on Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Finally, Bank of America downgraded Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $215.00 in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $212.23.

Charles River Laboratories International Trading Up 1.3 %

NYSE CRL opened at $197.69 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.65. Charles River Laboratories International has a twelve month low of $161.65 and a twelve month high of $275.00. The firm has a market capitalization of $10.18 billion, a PE ratio of 23.26, a P/E/G ratio of 5.11 and a beta of 1.36. The stock’s 50 day moving average is $197.26 and its 200 day moving average is $214.56.

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

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

Institutional Trading of Charles River Laboratories International

Hedge funds have recently bought and sold shares of the company. Tortoise Investment Management LLC increased its position in Charles River Laboratories International by 77.0% during the second 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 during the last quarter. Wolff Wiese Magana LLC purchased a new stake in Charles River Laboratories International during the third quarter valued at $32,000. Headlands Technologies LLC purchased a new stake in Charles River Laboratories International during the first quarter valued at $41,000. Whittier Trust Co. of Nevada Inc. increased its position in Charles River Laboratories International by 219.3% in the second 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 in the last quarter. Finally, Concord Wealth Partners increased its position in Charles River Laboratories International by 362.5% in the first quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock worth $70,000 after buying an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Company Profile

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).