Charles River Laboratories International (NYSE:CRL) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Charles River Laboratories from “hold” to “buy.” Overall, MarketBeat reports a “Moderate Buy” consensus, with an average price target of $308.17.
• The company reported quarterly EPS of $3.09, beating the $2.97 consensus, and revenue of $982.73 million, above estimates. Revenue was down 2.2% year over year.
• Shares opened at $337.91 after rising 8.0%; company insiders sold 102,299 shares worth about $31.1 million over the past 90 days.

Charles River Laboratories International (NYSE:CRL - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other research analysts have also issued reports about the company. UBS Group increased their price objective on Charles River Laboratories International from $357.00 to $387.00 and gave the company a "buy" rating in a report on Thursday. Argus set a $330.00 price target on Charles River Laboratories International in a research report on Thursday, September 17th. Zacks Research lowered Charles River Laboratories International from a "strong-buy" rating to a "hold" rating in a report on Monday, November 2nd. JPMorgan Chase & Co. raised shares of Charles River Laboratories International from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $180.00 to $310.00 in a report on Thursday, August 6th. Finally, Evercore set a $330.00 target price on Charles River Laboratories International in a research note on Friday, September 25th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $308.17.

Charles River Laboratories International Stock Up 8.0%

Shares of NYSE:CRL opened at $337.91 on Friday. The stock's 50-day moving average is $305.71 and its 200 day moving average is $225.19. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.35 and a quick ratio of 1.04. The company has a market cap of $16.13 billion, a PE ratio of 371.33, a P/E/G ratio of 3.16 and a beta of 1.36. Charles River Laboratories International has a 1 year low of $146.20 and a 1 year high of $379.63.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The medical research company reported $3.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.12. The firm had revenue of $982.73 million for the quarter, compared to the consensus estimate of $960.36 million. Charles River Laboratories International had a positive return on equity of 15.75% and a negative net margin of 5.96%. The company's quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.43 earnings per share. Sell-side analysts anticipate that Charles River Laboratories International will post 11.44 EPS for the current year.

Insider Buying and Selling at Charles River Laboratories International

In related news, EVP Shannon M. Parisotto sold 3,714 shares of Charles River Laboratories International stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $279.66, for a total transaction of $1,038,657.24. Following the completion of the sale, the executive vice president owned 4,807 shares of the company's stock, valued at approximately $1,344,325.62. This trade represents a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Foster sold 33,561 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $300.00, for a total value of $10,068,300.00. Following the completion of the sale, the director directly owned 31,596 shares in the company, valued at approximately $9,478,800. This represents a 51.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 102,299 shares of company stock valued at $31,050,863. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Charles River Laboratories International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Diversified Trust Co lifted its stake in Charles River Laboratories International by 321.9% during the 3rd quarter. Diversified Trust Co now owns 5,565 shares of the medical research company's stock valued at $1,642,000 after acquiring an additional 4,246 shares during the period. Aberdeen Group plc raised its position in shares of Charles River Laboratories International by 483.6% during the 3rd quarter. Aberdeen Group plc now owns 792,576 shares of the medical research company's stock valued at $233,818,000 after buying an additional 656,777 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Charles River Laboratories International by 2,931.8% during the 3rd quarter. Allworth Financial LP now owns 10,096 shares of the medical research company's stock worth $2,978,000 after purchasing an additional 9,763 shares during the period. Fisher Asset Management LLC grew its position in Charles River Laboratories International by 1,334.7% in the 3rd quarter. Fisher Asset Management LLC now owns 14,376 shares of the medical research company's stock valued at $4,241,000 after acquiring an additional 13,374 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Charles River Laboratories International by 457.3% during the third quarter. Russell Investments Group Ltd. now owns 436,055 shares of the medical research company's stock worth $128,641,000 after acquiring an additional 357,817 shares during the period. 98.91% of the stock is owned by institutional investors.

About Charles River Laboratories International

Charles River Laboratories International, Inc is a contract research and laboratory services company that supports pharmaceutical, biotechnology, medical device and academic research organizations. The company provides products and services used throughout the drug-development process, from early discovery and research through preclinical testing and manufacturing support.

Its offerings include research models, laboratory animal management, discovery and safety assessment services, toxicology testing, bioanalysis, and support for biologic, cell and gene therapy programs.

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