Charles River Laboratories International, Inc. (NYSE:CRL) Short Interest Up 7.1% in October

Charles River Laboratories International, Inc. (NYSE:CRL) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 2,110,000 shares, an increase of 7.1% from the September 30th total of 1,970,000 shares. Based on an average daily volume of 744,300 shares, the days-to-cover ratio is presently 2.8 days.

Charles River Laboratories International Stock Up 1.3 %

CRL traded up $2.38 during trading on Friday, reaching $180.96. The company had a trading volume of 781,002 shares, compared to its average volume of 605,380. The business’s fifty day moving average price is $194.66 and its 200 day moving average price is $210.05. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. Charles River Laboratories International has a 12 month low of $166.87 and a 12 month high of $275.00. The company has a market cap of $9.34 billion, a P/E ratio of 21.39, a PEG ratio of 6.22 and a beta of 1.36.

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, topping analysts’ consensus estimates of $2.39 by $0.41. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Equities analysts anticipate that Charles River Laboratories International will post 10.01 EPS for the current year.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Baird R W downgraded shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Redburn Atlantic began coverage on shares of Charles River Laboratories International in a research report on Monday, October 14th. They set a “sell” rating and a $151.00 price target for the company. Bank of America downgraded shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $250.00 to $215.00 in a research note on Wednesday, October 2nd. UBS Group lowered their target price on shares of Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. downgraded Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their price target for the company from $270.00 to $205.00 in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $209.00.

Hedge Funds Weigh In On Charles River Laboratories International

A number of institutional investors have recently added to or reduced their stakes in CRL. Vanguard Group Inc. grew its position in shares of Charles River Laboratories International by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 6,046,467 shares of the medical research company’s stock valued at $1,638,290,000 after acquiring an additional 66,161 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Charles River Laboratories International by 1.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company’s stock worth $394,359,000 after purchasing an additional 31,359 shares during the period. Allspring Global Investments Holdings LLC increased its position in Charles River Laboratories International by 40.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock worth $346,821,000 after buying an additional 509,163 shares during the last quarter. Clearbridge Investments LLC raised its stake in Charles River Laboratories International by 3.1% in the first quarter. Clearbridge Investments LLC now owns 1,513,138 shares of the medical research company’s stock valued at $409,985,000 after buying an additional 45,079 shares during the period. Finally, Meritage Group LP lifted its position in shares of Charles River Laboratories International by 2.3% in the first quarter. Meritage Group LP now owns 1,182,268 shares of the medical research company’s stock valued at $320,336,000 after buying an additional 26,892 shares during the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.

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).