Evercore ISI Forecasts Strong Price Appreciation for Charles River Laboratories International (NYSE:CRL) Stock

Key Points

• Evercore ISI has raised its target price for Charles River Laboratories International (NYSE:CRL) from $180 to $190, indicating a potential upside of 26.80% from its current price.
• CRL reported earnings of $3.12 per share for the latest quarter, significantly surpassing the consensus estimate of $2.50, and had revenue of $1.03 billion.
• While the current average rating for the stock is "Hold," several analysts have recently upgraded their ratings, with a total of five analysts issuing "buy" ratings.

Charles River Laboratories International (NYSE:CRL - Get Free Report) had its price objective boosted by investment analysts at Evercore ISI from $180.00 to $190.00 in a report released on Friday,Benzinga reports. The firm presently has an "outperform" rating on the medical research company's stock. Evercore ISI's price objective would indicate a potential upside of 24.24% from the stock's previous close.

A number of other equities analysts have also commented on CRL. JPMorgan Chase & Co. raised 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 research note on Thursday, August 7th. Robert W. Baird raised their price objective on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. TD Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 target price for the company in a research note on Wednesday, May 14th. Redburn Atlantic raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and decreased their target price for the company from $188.00 to $182.00 in a research note on Friday, May 23rd. Finally, Barclays lifted 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $175.69.

Charles River Laboratories International Trading Up 2.7%

Charles River Laboratories International stock traded up $4.01 during midday trading on Friday, reaching $152.94. The stock had a trading volume of 502,562 shares, compared to its average volume of 1,279,853. The firm's fifty day simple moving average is $155.83 and its two-hundred day simple moving average is $149.00. Charles River Laboratories International has a twelve month low of $91.86 and a twelve month high of $230.02. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.36 and a quick ratio of 1.10. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of -115.00, a PEG ratio of 4.74 and a beta of 1.48.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The medical research company reported $3.12 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $983.76 million. During the same quarter last year, the business posted $2.80 EPS. The company's revenue was up .6% on a year-over-year basis. Equities analysts anticipate that Charles River Laboratories International will post 9.36 EPS for the current fiscal year.

Insider Activity

In related news, EVP Joseph W. Laplume sold 400 shares of Charles River Laboratories International stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $150.04, for a total value of $60,016.00. Following the completion of the sale, the executive vice president owned 24,916 shares of the company's stock, valued at approximately $3,738,396.64. The trade was a 1.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 modified their holdings of the business. Rothschild Investment LLC raised its holdings in Charles River Laboratories International by 480.0% in the 1st quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock worth $26,000 after acquiring an additional 144 shares during the period. Brooklyn Investment Group raised its holdings in 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 worth $27,000 after acquiring an additional 86 shares during the period. Cromwell Holdings LLC raised its holdings in Charles River Laboratories International by 542.9% in the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical research company's stock worth $27,000 after acquiring an additional 152 shares during the period. Neo Ivy Capital Management bought a new position in Charles River Laboratories International in the 2nd quarter worth $29,000. Finally, HM Payson & Co. bought a new position in Charles River Laboratories International in the 1st quarter worth $31,000. Institutional investors and hedge funds 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).