Charles River Laboratories International (NYSE:CRL) Stock Price Up 4.7% on Analyst Upgrade

Key Points

• Charles River Laboratories International's stock surged 4.7% to close at $153.90 following an upgrade from Wall Street Zen, which shifted its rating from a buy to a strong-buy.
• Multiple analysts have increased their target prices for the stock, with Citigroup raising its target from $150 to $200 and Jefferies from $142 to $195, reflecting strong bullish sentiment.
• The company reported a quarterly earnings beat with earnings per share of $3.12, exceeding expectations of $2.50, while revenue grew to $1.03 billion, surpassing analysts’ estimates of $983.76 million.

Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report)'s stock price shot up 4.7% during trading on Tuesday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $153.86 and last traded at $153.90. 409,183 shares traded hands during trading, a decline of 66% from the average session volume of 1,206,247 shares. The stock had previously closed at $146.99.

Several other research firms have also recently issued reports on CRL. Citigroup upgraded Charles River Laboratories International from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $150.00 to $200.00 in a report on Wednesday, July 9th. Barclays raised their target price on shares of Charles River Laboratories International from $155.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. 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 stock from $142.00 to $195.00 in a research note on Tuesday, September 9th. Evercore ISI raised their target price on shares of Charles River Laboratories International from $180.00 to $190.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $177.07.

Insider Activity at Charles River Laboratories International

In related 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 transaction of $126,080.00. Following the completion of the transaction, the executive vice president owned 24,116 shares in the company, valued at approximately $3,800,681.60. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Charles River Laboratories International

Institutional investors and hedge funds have recently made changes to their positions in the business. Rothschild Investment LLC raised its holdings in shares of 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 last quarter. Brooklyn Investment Group raised its holdings in 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. Cromwell Holdings LLC raised its holdings in 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 worth $27,000 after purchasing an additional 152 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Charles River Laboratories International during the second quarter worth about $29,000. Finally, HM Payson & Co. purchased a new position in Charles River Laboratories International during the first quarter worth about $31,000. 98.91% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories International Stock Up 5.2%

The stock has a market capitalization of $7.61 billion, a PE ratio of -116.09, a PEG ratio of 3.97 and a beta of 1.47. The firm's fifty day moving average is $159.59 and its 200-day moving average is $147.24. 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 posted its quarterly earnings results on Wednesday, August 6th. The medical research company reported $3.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $983.76 million. During the same period in the prior year, the company posted $2.80 earnings per share. The firm's revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts predict that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

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).

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