JPMorgan Chase & Co. Lowers Charles River Laboratories International (NYSE:CRL) Price Target to $165.00

Charles River Laboratories International (NYSE:CRL) had its price objective cut by JPMorgan Chase & Co. from $175.00 to $165.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 0.07% from the stock’s current price.

CRL has been the subject of a number of other research reports. StockNews.com downgraded shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird lowered their price objective on Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating for the company in a research note on Thursday. CLSA downgraded Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price on the stock. in a research report on Monday, November 18th. William Blair downgraded Charles River Laboratories International from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 22nd. Finally, TD Cowen lifted their price objective on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Charles River Laboratories International currently has an average rating of “Hold” and an average target price of $195.71.

Charles River Laboratories International Price Performance

Shares of CRL traded down $0.11 during mid-day trading on Thursday, hitting $164.89. 283,950 shares of the stock were exchanged, compared to its average volume of 1,008,501. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.14 and a current ratio of 1.48. The company has a market cap of $8.43 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 6.01 and a beta of 1.37. Charles River Laboratories International has a 52-week low of $150.79 and a 52-week high of $275.00. The firm has a 50-day moving average of $174.02 and a two-hundred day moving average of $188.99.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, February 19th. The medical research company reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.16. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.63 million. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Charles River Laboratories International’s revenue was down 1.1% on a year-over-year basis. On average, equities analysts predict that Charles River Laboratories International will post 10.16 earnings per share for the current year.

Institutional Trading of Charles River Laboratories International

Several institutional investors and hedge funds have recently modified their holdings of CRL. Virtu Financial LLC bought a new position in shares of Charles River Laboratories International during the 3rd quarter worth $601,000. JPMorgan Chase & Co. raised its holdings in shares of Charles River Laboratories International by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 482,745 shares of the medical research company’s stock valued at $95,086,000 after purchasing an additional 85,759 shares in the last quarter. State Street Corp lifted its position in shares of Charles River Laboratories International by 2.0% in the 3rd quarter. State Street Corp now owns 2,130,279 shares of the medical research company’s stock worth $419,601,000 after purchasing an additional 41,421 shares during the period. Janus Henderson Group PLC increased its holdings in Charles River Laboratories International by 7.6% during the third quarter. Janus Henderson Group PLC now owns 46,018 shares of the medical research company’s stock valued at $9,064,000 after buying an additional 3,268 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in Charles River Laboratories International during the third quarter worth $966,000. 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).