Charles River Laboratories International (NYSE:CRL) Rating Increased to Buy at TD Cowen

Charles River Laboratories International (NYSE:CRL - Get Free Report) was upgraded by stock analysts at TD Cowen from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday,Finviz reports. The brokerage currently has a $179.00 price target on the medical research company's stock. TD Cowen's price objective points to a potential upside of 23.98% from the company's current price.

A number of other research analysts have also weighed in on CRL. William Blair lowered shares of Charles River Laboratories International from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 22nd. Citigroup raised Charles River Laboratories International from a "sell" rating to a "neutral" rating and increased their price target for the stock from $155.00 to $175.00 in a research report on Tuesday, March 4th. The Goldman Sachs Group lowered Charles River Laboratories International from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $190.00 to $170.00 in a research report on Friday, March 21st. Mizuho cut their price target on shares of Charles River Laboratories International from $175.00 to $155.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Finally, Evercore ISI upgraded shares of Charles River Laboratories International from an "in-line" rating to an "outperform" rating and set a $170.00 target price for the company in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Charles River Laboratories International presently has a consensus rating of "Hold" and an average target price of $172.31.

Charles River Laboratories International Trading Up 0.9%

NYSE:CRL opened at $144.38 on Wednesday. The company has a 50 day simple moving average of $137.41 and a two-hundred day simple moving average of $165.78. The company has a market cap of $7.09 billion, a PE ratio of 962.53, a price-to-earnings-growth ratio of 4.54 and a beta of 1.50. Charles River Laboratories International has a 12 month low of $91.86 and a 12 month high of $254.15. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 0.65.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The medical research company reported $2.34 EPS for the quarter, topping analysts' consensus estimates of $2.06 by $0.28. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The business had revenue of $984.17 million during the quarter, compared to analysts' expectations of $942.34 million. During the same quarter in the prior year, the business posted $2.27 earnings per share. The business's quarterly revenue was down 2.7% on a year-over-year basis. Research analysts forecast that Charles River Laboratories International will post 9.36 earnings per share for the current year.

Insider Activity at Charles River Laboratories International

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 4,400 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $162.50, for a total value of $715,000.00. Following the completion of the sale, the executive vice president now directly owns 20,013 shares of the company's stock, valued at $3,252,112.50. This trade represents a 18.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Birgit Girshick acquired 1,514 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average price of $164.63 per share, with a total value of $249,249.82. Following the completion of the transaction, the chief operating officer now owns 55,058 shares of the company's stock, valued at $9,064,198.54. The trade was a 2.83% increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Charles River Laboratories International

Large investors have recently made changes to their positions in the stock. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Charles River Laboratories International by 39.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 3,109 shares of the medical research company's stock valued at $465,000 after purchasing an additional 879 shares during the period. Hsbc Holdings PLC grew its holdings in Charles River Laboratories International by 2.0% during the 1st quarter. Hsbc Holdings PLC now owns 81,813 shares of the medical research company's stock worth $12,270,000 after acquiring an additional 1,611 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Charles River Laboratories International by 5.1% in the 1st quarter. Wellington Management Group LLP now owns 4,285,012 shares of the medical research company's stock valued at $644,980,000 after purchasing an additional 208,586 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of Charles River Laboratories International by 93.5% during the first quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Finally, Burgundy Asset Management Ltd. raised its stake in Charles River Laboratories International by 108.6% in the first quarter. Burgundy Asset Management Ltd. now owns 2,720 shares of the medical research company's stock valued at $409,000 after buying an additional 1,416 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.