Charles River Laboratories International (NYSE:CRL) Sees Unusually-High Trading Volume - Here's Why

Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report) saw unusually-high trading volume on Friday . Approximately 2,386,364 shares changed hands during mid-day trading, an increase of 191% from the previous session's volume of 820,287 shares.The stock last traded at $97.76 and had previously closed at $99.95.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CRL. Morgan Stanley dropped their target price on shares of Charles River Laboratories International from $220.00 to $184.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. JPMorgan Chase & Co. cut their target price on shares of Charles River Laboratories International from $175.00 to $165.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. The Goldman Sachs Group cut shares of Charles River Laboratories International from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $190.00 to $170.00 in a research report on Friday, March 21st. UBS Group reissued a "neutral" rating and issued a $185.00 price objective (down from $250.00) on shares of Charles River Laboratories International in a research report on Friday, January 17th. Finally, Robert W. Baird decreased their target price on Charles River Laboratories International from $177.00 to $173.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $182.00.

Charles River Laboratories International Stock Down 1.4 %

The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.14. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 696.13, a PEG ratio of 4.54 and a beta of 1.45. The firm's fifty day moving average is $153.13 and its 200-day moving average is $175.23.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The medical research company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.50 by $0.16. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $983.63 million. Charles River Laboratories International had a net margin of 0.52% and a return on equity of 14.69%. The company's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.46 earnings per share. On average, sell-side analysts predict that Charles River Laboratories International, Inc. 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, COO Birgit Girshick acquired 1,514 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average price of $164.63 per share, with a total value of $249,249.82. Following the transaction, the chief operating officer now directly owns 55,058 shares in the company, valued at approximately $9,064,198.54. This represents a 2.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph W. Laplume sold 4,400 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $162.50, for a total transaction of $715,000.00. Following the completion of the transaction, the executive vice president now directly owns 20,013 shares in the company, valued at $3,252,112.50. This represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of Charles River Laboratories International

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fiduciary Financial Group LLC increased its position in Charles River Laboratories International by 3.9% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,665 shares of the medical research company's stock worth $310,000 after buying an additional 63 shares during the period. Pinnacle Bancorp Inc. grew its position in shares of Charles River Laboratories International by 52.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company's stock worth $35,000 after acquiring an additional 65 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Charles River Laboratories International by 3.4% in the 3rd quarter. M&T Bank Corp now owns 2,001 shares of the medical research company's stock worth $394,000 after acquiring an additional 66 shares during the period. Cornerstone Investment Partners LLC lifted its position in Charles River Laboratories International by 3.7% in the 4th quarter. Cornerstone Investment Partners LLC now owns 1,940 shares of the medical research company's stock valued at $358,000 after purchasing an additional 69 shares during the last quarter. Finally, Metis Global Partners LLC boosted its stake in Charles River Laboratories International by 4.4% during the 4th quarter. Metis Global Partners LLC now owns 1,720 shares of the medical research company's stock valued at $318,000 after purchasing an additional 72 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).