Charles River Laboratories International, Inc. (NYSE:CRL) Short Interest Update

Key Points

• Charles River Laboratories experienced a 37.9% increase in short interest in August, reaching a total of 3,020,000 shares.
• The company reported earnings per share (EPS) of $3.12 for the last quarter, exceeding analysts' expectations by $0.62, with revenue of $1.03 billion.
• Barclays and Evercore ISI have both recently updated their price targets for Charles River Laboratories, with Barclays setting it at $165.00 and Evercore ISI at $190.00.

Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totaling 3,020,000 shares, anincreaseof37.9% from the July 31st total of 2,190,000 shares. Based on an average trading volume of 865,700 shares, the short-interest ratio is presently 3.5 days. Approximately6.2% of the shares of the company are sold short. Approximately6.2% of the shares of the company are sold short. Based on an average trading volume of 865,700 shares, the short-interest ratio is presently 3.5 days.

Charles River Laboratories International Stock Performance

Shares of Charles River Laboratories International stock traded down $2.02 on Monday, reaching $161.97. 1,161,229 shares of the stock were exchanged, compared to its average volume of 771,766. Charles River Laboratories International has a 1-year low of $91.86 and a 1-year high of $230.02. The company has a current ratio of 1.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average price of $160.83 and a two-hundred day moving average price of $148.92. The firm has a market capitalization of $7.97 billion, a PE ratio of -121.78, a PEG ratio of 5.24 and a beta of 1.47.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The medical research company reported $3.12 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $983.76 million. During the same period in the previous year, the business posted $2.80 earnings per share. The business's revenue was up .6% compared to the same quarter last year. As a group, research analysts anticipate that Charles River Laboratories International will post 9.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CRL has been the subject of a number of research reports. Barclays boosted their price target on shares of Charles River Laboratories International from $155.00 to $165.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Evercore ISI lifted 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 note on Friday, August 8th. TD Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 price objective on the stock in a research note on Wednesday, May 14th. Finally, Redburn Atlantic upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $188.00 to $182.00 in a research note on Friday, May 23rd. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Charles River Laboratories International presently has an average rating of "Hold" and an average price target of $175.69.

Insiders Place Their Bets

In related news, EVP Joseph W. Laplume sold 800 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $157.60, for a total value of $126,080.00. Following the completion of the sale, the executive vice president directly owned 24,116 shares of the company's stock, valued at $3,800,681.60. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. increased its stake in shares of Charles River Laboratories International by 24.7% during the second quarter. Osaic Holdings Inc. now owns 1,091 shares of the medical research company's stock worth $165,000 after acquiring an additional 216 shares during the period. Thrivent Financial for Lutherans grew its position in Charles River Laboratories International by 1,006.6% during the second quarter. Thrivent Financial for Lutherans now owns 22,176 shares of the medical research company's stock worth $3,365,000 after buying an additional 20,172 shares during the period. Advisory Services Network LLC grew its position in 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 worth $477,000 after buying an additional 163 shares during the period. State of Wyoming grew its position in Charles River Laboratories International by 33.7% during the second quarter. State of Wyoming now owns 1,962 shares of the medical research company's stock worth $298,000 after buying an additional 494 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in Charles River Laboratories International by 98.0% during the second quarter. Geneos Wealth Management Inc. now owns 293 shares of the medical research company's stock worth $44,000 after buying an additional 145 shares during the period. 98.91% of the stock is currently owned by institutional investors and hedge funds.

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).

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