Charles River Laboratories International (NYSE:CRL) Shares Gap Up - Time to Buy?

Key Points

• Shares of Charles River Laboratories International gapped up from $162.00 to $167.50, but are currently trading at approximately $156.82 after a 2.6% decline.
• Recent analyst reports indicate a mixed outlook, with six analysts rating the stock as a Buy and the average target price set at $177.07.
• The company reported earnings of $3.12 per share for the last quarter, exceeding estimates by $0.62, with quarterly revenue of $1.03 billion.

Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $162.00, but opened at $167.50. Charles River Laboratories International shares last traded at $156.82, with a volume of 267,965 shares.

Analyst Ratings Changes

CRL has been the subject of several research reports. Redburn Atlantic raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $188.00 to $182.00 in a research note on Friday, May 23rd. Barclays raised their target price 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. Evercore ISI raised their target price 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. JPMorgan Chase & Co. raised their target price 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, Jefferies Financial Group raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and raised their target price for the company from $142.00 to $195.00 in a research note on Tuesday. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $177.07.

Charles River Laboratories International Stock Performance

The firm has a market cap of $7.54 billion, a price-to-earnings ratio of -115.21, a P/E/G ratio of 5.11 and a beta of 1.47. The stock has a 50 day moving average of $160.79 and a 200 day moving average of $148.85. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.69.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its earnings results 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 positive return on equity of 15.74% and a negative net margin of 1.69%.The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $983.76 million. During the same quarter in the previous year, the business posted $2.80 earnings per share. The business's revenue for the quarter was up .6% on a year-over-year basis. As a group, analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rothschild Investment LLC lifted its stake 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 valued at $26,000 after buying an additional 144 shares during the period. Brooklyn Investment Group increased 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 valued at $27,000 after buying an additional 86 shares during the period. Cromwell Holdings LLC boosted its position in shares of Charles River Laboratories International by 542.9% during 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 in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Charles River Laboratories International during the second quarter valued at approximately $29,000. Finally, HM Payson & Co. purchased a new position in Charles River Laboratories International during the first quarter valued at $31,000. Institutional investors and hedge funds own 98.91% of the company's stock.

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).