Charles River Laboratories International (NYSE:CRL) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays has raised its target price for Charles River Laboratories International from $155.00 to $165.00, indicating a potential upside of 7.38% from the stock's previous close.
• The company reported earnings of $3.12 per share for the last quarter, exceeding analyst expectations of $2.50, with a revenue of $1.03 billion.
• Current analyst ratings for the company include eleven "hold" ratings and five "buy" ratings, giving Charles River Laboratories an average rating of "Hold" with a consensus price target of $175.31.

Charles River Laboratories International (NYSE:CRL - Get Free Report) had its target price lifted by analysts at Barclays from $155.00 to $165.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the medical research company's stock. Barclays's price target suggests a potential upside of 7.38% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Charles River Laboratories International from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Evercore ISI boosted their price target on Charles River Laboratories International from $170.00 to $180.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Redburn Atlantic upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and decreased their price target for the company from $188.00 to $182.00 in a research note on Friday, May 23rd. Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Finally, TD Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 target price on the stock in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $175.31.

Charles River Laboratories International Stock Performance

CRL stock opened at $153.67 on Thursday. The firm has a market cap of $7.55 billion, a PE ratio of -234.55, a P/E/G ratio of 5.67 and a beta of 1.48. Charles River Laboratories International has a 1-year low of $91.86 and a 1-year high of $230.02. The business's 50-day moving average price is $155.03 and its two-hundred day moving average price is $149.60. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78.

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, beating the consensus estimate of $2.50 by $0.62. Charles River Laboratories International had a negative net margin of 0.66% and a positive return on equity of 15.19%. The firm 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 earned $2.80 EPS. The company's revenue was up .6% compared to the same quarter last year. As a group, research analysts forecast that Charles River Laboratories International will post 9.36 earnings per share for the current year.

Insiders Place Their Bets

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 500 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $145.41, for a total transaction of $72,705.00. Following the completion of the sale, the executive vice president directly owned 19,513 shares of the company's stock, valued at approximately $2,837,385.33. This represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Charles River Laboratories International

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC grew its stake in shares of Charles River Laboratories International by 1.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 5,742 shares of the medical research company's stock worth $871,000 after purchasing an additional 76 shares during the period. Two Sigma Securities LLC grew its stake in shares of Charles River Laboratories International by 4.3% during the 4th quarter. Two Sigma Securities LLC now owns 1,981 shares of the medical research company's stock worth $366,000 after purchasing an additional 81 shares during the period. Wahed Invest LLC grew its stake in shares of Charles River Laboratories International by 6.5% during the 4th quarter. Wahed Invest LLC now owns 1,321 shares of the medical research company's stock worth $244,000 after purchasing an additional 81 shares during the period. Brooklyn Investment Group grew its stake in shares of Charles River Laboratories International by 93.5% during the 1st quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock worth $27,000 after purchasing an additional 86 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Charles River Laboratories International by 1.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 7,142 shares of the medical research company's stock worth $1,072,000 after purchasing an additional 86 shares during the period. 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).

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