Charles River Laboratories International (NYSE:CRL) Shares Up 7.7% - What's Next?

Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report)'s stock price traded up 7.7% during mid-day trading on Thursday . The company traded as high as $184.17 and last traded at $180.90. 565,505 shares were traded during trading, a decline of 57% from the average session volume of 1,304,418 shares. The stock had previously closed at $167.95.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CRL shares. Mizuho lowered their price objective 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. Redburn Atlantic upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and cut their price target for the company from $188.00 to $182.00 in a research report on Friday, May 23rd. Citigroup raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and lifted their target price for the company from $150.00 to $200.00 in a research report on Wednesday, July 9th. 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. Finally, Robert W. Baird upped their price objective on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $174.54.

Charles River Laboratories International Trading Up 1.2%

The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.16 and a current ratio of 1.43. The stock has a 50-day moving average of $150.76 and a two-hundred day moving average of $149.57. The company has a market cap of $8.80 billion, a P/E ratio of -275.54, a price-to-earnings-growth ratio of 5.99 and a beta of 1.49.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The medical research company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.28. Charles River Laboratories International had a negative net margin of 0.66% and a positive return on equity of 15.19%. The company had revenue of $984.17 million during the quarter, compared to the consensus estimate of $942.34 million. During the same quarter last year, the firm earned $2.27 earnings per share. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts predict that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Insider Transactions at Charles River Laboratories International

In related news, EVP Joseph W. Laplume sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 trade represents a 2.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Charles River Laboratories International

A number of large investors have recently modified their holdings of the business. Teacher Retirement System of Texas acquired a new stake in shares of Charles River Laboratories International in the first quarter valued at $1,231,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Charles River Laboratories International by 15.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,118 shares of the medical research company's stock valued at $952,000 after acquiring an additional 817 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Charles River Laboratories International by 13.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 44,500 shares of the medical research company's stock worth $6,698,000 after buying an additional 5,148 shares in the last quarter. GAMMA Investing LLC raised its position in Charles River Laboratories International by 61.6% in the first quarter. GAMMA Investing LLC now owns 1,398 shares of the medical research company's stock worth $210,000 after acquiring an additional 533 shares in the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new position in Charles River Laboratories International in the first quarter valued at about $213,000. Hedge funds and other institutional investors 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).