Charles River Associates (NASDAQ:CRAI) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Charles River Associates' stock has recently crossed above its 200-day moving average, reaching a high of $187.64 during trading, with the last traded price at $186.28.
• Analysts from Barrington Research have raised their price target for Charles River Associates to $228.00 and given it an "outperform" rating, while Wall Street Zen downgraded it to a "hold" rating.
• The company reported a quarterly EPS of $1.88, exceeding expectations, along with a planned dividend of $0.49 per share, showing a yield of 1.1%.

Charles River Associates (NASDAQ:CRAI - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $182.23 and traded as high as $187.64. Charles River Associates shares last traded at $186.28, with a volume of 39,022 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CRAI shares. Barrington Research upped their price target on Charles River Associates from $224.00 to $228.00 and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Wall Street Zen cut Charles River Associates from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd.

Charles River Associates Trading Up 1.4%

The business has a 50-day moving average price of $185.11 and a 200 day moving average price of $182.23. The stock has a market cap of $1.23 billion, a PE ratio of 22.55, a PEG ratio of 1.44 and a beta of 0.91.

Charles River Associates (NASDAQ:CRAI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The business services provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.05. The business had revenue of $186.88 million for the quarter, compared to analysts' expectations of $180.34 million. Charles River Associates had a return on equity of 25.51% and a net margin of 7.93%. On average, equities analysts predict that Charles River Associates will post 7.52 earnings per share for the current year.

Charles River Associates Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, August 26th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.96 dividend on an annualized basis and a yield of 1.1%. Charles River Associates's dividend payout ratio is 23.73%.

Institutional Trading of Charles River Associates

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Charles River Associates by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 171,401 shares of the business services provider's stock worth $32,120,000 after purchasing an additional 3,138 shares in the last quarter. CSM Advisors LLC purchased a new stake in Charles River Associates during the 2nd quarter worth about $4,923,000. Jump Financial LLC lifted its holdings in Charles River Associates by 422.5% during the 2nd quarter. Jump Financial LLC now owns 18,950 shares of the business services provider's stock worth $3,551,000 after purchasing an additional 15,323 shares in the last quarter. Rhumbline Advisers lifted its holdings in Charles River Associates by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 13,049 shares of the business services provider's stock worth $2,445,000 after purchasing an additional 343 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Charles River Associates by 243.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,511 shares of the business services provider's stock worth $2,157,000 after acquiring an additional 8,163 shares during the last quarter. Hedge funds and other institutional investors own 84.13% of the company's stock.

About Charles River Associates

CRA International, Inc, together with its subsidiaries, provides economic, financial, and management consulting services worldwide. It advises clients on economic and financial matters pertaining to litigation and regulatory proceedings; and guides corporations through business strategy and performance-related issues.

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