Charles River Laboratories International, Inc. (NYSE:CRL) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Charles River Laboratories International, Inc. has received an average recommendation of "Hold" from 15 research firms, with one sell, nine hold, and five buy ratings.
• The company's average 12-month price target among brokerages is $175.69, indicating some optimism for share performance despite current sentiments.
• Charles River Laboratories reported $3.12 earnings per share for the last quarter, surpassing analysts' expectations of $2.50, with revenue up 0.6% year-over-year.

Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report) has earned an average recommendation of "Hold" from the fifteen research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $175.6923.

CRL has been the subject of a number of research reports. Redburn Atlantic raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and cut their price objective for the company from $188.00 to $182.00 in a research note on Friday, May 23rd. Evercore ISI boosted their price objective on shares of Charles River Laboratories International from $180.00 to $190.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Barclays upped their price objective on shares of Charles River Laboratories International from $155.00 to $165.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Robert W. Baird upped their price objective on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th.

Insider Activity at Charles River Laboratories International

In other news, EVP Joseph W. Laplume sold 800 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $157.60, for a total transaction of $126,080.00. Following the completion of the transaction, the executive vice president directly owned 24,116 shares of the company's stock, valued at approximately $3,800,681.60. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Charles River Laboratories International

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC raised its stake in shares of Charles River Laboratories International by 5.5% during the second quarter. Advisory Services Network LLC now owns 3,143 shares of the medical research company's stock valued at $477,000 after acquiring an additional 163 shares during the last quarter. State of Wyoming lifted its position in shares of Charles River Laboratories International by 33.7% in the 2nd quarter. State of Wyoming now owns 1,962 shares of the medical research company's stock worth $298,000 after purchasing an additional 494 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Charles River Laboratories International by 98.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 293 shares of the medical research company's stock worth $44,000 after purchasing an additional 145 shares during the period. National Bank of Canada FI lifted its position in shares of Charles River Laboratories International by 1,179.5% in the 2nd quarter. National Bank of Canada FI now owns 434,868 shares of the medical research company's stock worth $65,983,000 after purchasing an additional 400,881 shares during the period. Finally, Corient Private Wealth LLC lifted its position in shares of Charles River Laboratories International by 135.5% in the 2nd quarter. Corient Private Wealth LLC now owns 12,142 shares of the medical research company's stock worth $1,842,000 after purchasing an additional 6,986 shares during the period. 98.91% of the stock is owned by institutional investors.

Charles River Laboratories International Price Performance

Shares of Charles River Laboratories International stock opened at $164.0340 on Tuesday. Charles River Laboratories International has a 52-week low of $91.86 and a 52-week high of $230.02. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of -123.33, a price-to-earnings-growth ratio of 5.16 and a beta of 1.48. The company has a fifty day moving average of $157.92 and a 200-day moving average of $148.53. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.36.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The medical research company reported $3.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.50 by $0.62. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $983.76 million. During the same quarter in the prior year, the company earned $2.80 EPS. The firm's revenue was up .6% on a year-over-year basis. Equities research analysts expect that Charles River Laboratories International will post 9.36 EPS for the current year.

About Charles River Laboratories International

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).

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