TD Cowen Issues Positive Forecast for Charles River Laboratories International (NYSE:CRL) Stock Price

Charles River Laboratories International (NYSE:CRL) had its price objective hoisted by TD Cowen from $203.00 to $227.00 in a research note released on Monday morning,Benzinga reports. TD Cowen currently has a hold rating on the medical research company’s stock.

A number of other research analysts have also recently weighed in on the stock. Evercore ISI raised their price objective on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. StockNews.com cut Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Citigroup downgraded Charles River Laboratories International from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $215.00 to $175.00 in a research report on Tuesday, October 1st. UBS Group lifted their price objective on Charles River Laboratories International from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, 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 on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles River Laboratories International presently has a consensus rating of “Hold” and an average price target of $217.54.

Charles River Laboratories International Stock Performance

Shares of CRL opened at $196.97 on Monday. The company has a market capitalization of $10.07 billion, a PE ratio of 24.65, a P/E/G ratio of 5.33 and a beta of 1.38. Charles River Laboratories International has a 52-week low of $176.48 and a 52-week high of $275.00. The company has a 50-day simple moving average of $195.26 and a 200-day simple moving average of $207.82. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.16. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $2.72 earnings per share. Equities research analysts predict that Charles River Laboratories International will post 10.19 earnings per share for the current fiscal year.

Charles River Laboratories International announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 9.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Charles River Laboratories International

In related news, Director Richard F. Wallman sold 6,621 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the completion of the sale, the director now owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Charles River Laboratories International

Institutional investors have recently bought and sold shares of the business. Tortoise Investment Management LLC grew its stake in shares of Charles River Laboratories International by 77.0% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after buying an additional 57 shares in the last quarter. Wolff Wiese Magana LLC purchased a new stake in shares of Charles River Laboratories International during the third quarter valued at approximately $32,000. Assetmark Inc. lifted its position in shares of Charles River Laboratories International by 1,153.3% during the third quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock worth $37,000 after purchasing an additional 173 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Charles River Laboratories International in the first quarter valued at $41,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Charles River Laboratories International by 219.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 193 shares in the last quarter. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

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).