Charles River Laboratories International (NYSE:CRL) Upgraded by Barclays to Overweight Rating

Key Points

• Charles River Laboratories International was upgraded to an "overweight" rating by Barclays, with a new price target set at $195.00, reflecting a potential upside of 14.42% from its previous close.
• Multiple analysts have increased their ratings, with price targets ranging from $190.00 to $200.00, showcasing strong positive sentiment towards the company's stock.
• Charles River Laboratories recently reported earnings of $3.12 EPS, exceeding expectations and indicating revenue growth, highlighting the company's financial health.

Charles River Laboratories International (NYSE:CRL - Get Free Report) was upgraded by stock analysts at Barclays from an "equal weight" rating to an "overweight" rating in a report issued on Thursday,Benzinga reports. The brokerage currently has a $195.00 price target on the medical research company's stock, up from their previous price target of $165.00. Barclays's price target points to a potential upside of 14.42% from the stock's previous close.

A number of other research analysts have also commented on CRL. Evercore ISI lifted their price objective 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. Jefferies Financial Group upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and lifted their price objective for the company from $142.00 to $195.00 in a research note on Tuesday, September 9th. Citigroup upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $150.00 to $200.00 in a research note on Wednesday, July 9th. Wall Street Zen raised shares of Charles River Laboratories International from a "buy" rating to a "strong-buy" rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $179.21.

Charles River Laboratories International Price Performance

Charles River Laboratories International stock opened at $170.42 on Thursday. The stock has a market cap of $8.39 billion, a P/E ratio of -128.13, a price-to-earnings-growth ratio of 4.18 and a beta of 1.50. The company has a fifty day simple moving average of $159.51 and a 200-day simple moving average of $147.47. Charles River Laboratories International has a 12-month low of $91.86 and a 12-month high of $230.02. The company has a current ratio of 1.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The medical research company reported $3.12 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 for the quarter, compared to analyst estimates of $983.76 million. During the same period last year, the business earned $2.80 EPS. Charles River Laboratories International's revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts expect that Charles River Laboratories International will post 9.36 EPS for the current fiscal year.

Insider Activity

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $157.60, for a total value of $126,080.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Charles River Laboratories International

Several institutional investors and hedge funds have recently modified their holdings of CRL. Exchange Traded Concepts LLC increased its stake in shares of Charles River Laboratories International by 1.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 5,742 shares of the medical research company's stock valued at $871,000 after acquiring an additional 76 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of Charles River Laboratories International by 93.5% in the 1st quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Charles River Laboratories International by 1.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 7,142 shares of the medical research company's stock valued at $1,072,000 after acquiring an additional 86 shares during the last quarter. WESCAP Management Group Inc. increased its stake in shares of Charles River Laboratories International by 3.8% in the 2nd quarter. WESCAP Management Group Inc. now owns 2,443 shares of the medical research company's stock valued at $371,000 after acquiring an additional 89 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of Charles River Laboratories International by 2.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 3,916 shares of the medical research company's stock valued at $589,000 after acquiring an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company's stock.

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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