Short Interest in Charles River Laboratories International, Inc. (NYSE:CRL) Increases By 37.9%

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 large growth in short interest in August. As of August 15th, there was short interest totaling 3,020,000 shares, a growth of 37.9% from the July 31st total of 2,190,000 shares. Based on an average daily trading volume, of 865,700 shares, the days-to-cover ratio is presently 3.5 days. Currently, 6.2% of the company's stock are sold short. Currently, 6.2% of the company's stock are sold short. Based on an average daily trading volume, of 865,700 shares, the days-to-cover ratio is presently 3.5 days.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRL. Wall Street Zen upgraded shares of Charles River Laboratories International from a "buy" rating to a "strong-buy" rating in a report on Saturday. Redburn Atlantic raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $188.00 to $182.00 in a research report on Friday, May 23rd. Citigroup raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and increased their price target for the stock from $150.00 to $200.00 in a research report on Wednesday, July 9th. JPMorgan Chase & Co. increased their price target on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Jefferies Financial Group raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and increased their price target for the stock from $142.00 to $195.00 in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $177.07.

Insider Buying and Selling

In other Charles River Laboratories International 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 transaction, the executive vice president owned 24,116 shares in the company, valued at $3,800,681.60. The trade was a 3.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Charles River Laboratories International

Large investors have recently bought and sold shares of the business. Rothschild Investment LLC lifted its holdings in Charles River Laboratories International by 480.0% in the first quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock worth $26,000 after acquiring an additional 144 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of Charles River Laboratories International by 93.5% in the first quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock valued at $27,000 after purchasing an additional 86 shares during the period. Cromwell Holdings LLC increased its stake in shares of Charles River Laboratories International by 542.9% in the second quarter. Cromwell Holdings LLC now owns 180 shares of the medical research company's stock valued at $27,000 after purchasing an additional 152 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Charles River Laboratories International in the second quarter valued at approximately $29,000. Finally, HM Payson & Co. acquired a new stake in shares of Charles River Laboratories International in the first quarter valued at approximately $31,000. Institutional investors own 98.91% of the company's stock.

Charles River Laboratories International Stock Performance

NYSE CRL traded down $6.51 during trading hours on Friday, reaching $153.23. The company's stock had a trading volume of 768,762 shares, compared to its average volume of 734,361. 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 50-day simple moving average of $160.79 and a 200 day simple moving average of $148.85. 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 cap of $7.54 billion, a PE ratio of -115.21, a PEG ratio of 5.11 and a beta of 1.47.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its 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 firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $983.76 million. During the same quarter last year, the company posted $2.80 earnings per share. Charles River Laboratories International's revenue was up .6% on a year-over-year basis. Equities research analysts predict that Charles River Laboratories International will post 9.36 earnings per share for the current fiscal year.

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).