Townsquare Capital LLC Boosts Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Key Points

• Townsquare Capital LLC significantly increased its stake in Charles River Laboratories, growing its holdings by 401.8% to 12,775 shares with a total value of approximately $1.92 million.
• Charles River Laboratories reported $3.12 earnings per share for the quarter, surpassing analysts' expectations of $2.50, and showed a year-over-year revenue increase of 0.6%.
• Wall Street analysts have varied ratings on Charles River Laboratories, with target price estimates ranging from $140 to $200, indicating cautious optimism about the stock's future performance.

Townsquare Capital LLC lifted its holdings in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 401.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,775 shares of the medical research company's stock after purchasing an additional 10,229 shares during the period. Townsquare Capital LLC's holdings in Charles River Laboratories International were worth $1,923,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CRL. Bank of Nova Scotia lifted its position in Charles River Laboratories International by 4.9% during the fourth quarter. Bank of Nova Scotia now owns 5,011 shares of the medical research company's stock valued at $925,000 after acquiring an additional 232 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Charles River Laboratories International during the fourth quarter valued at approximately $42,776,000. Sterling Capital Management LLC lifted its position in Charles River Laboratories International by 53.8% during the fourth quarter. Sterling Capital Management LLC now owns 3,086 shares of the medical research company's stock valued at $570,000 after acquiring an additional 1,080 shares during the last quarter. XTX Topco Ltd purchased a new stake in Charles River Laboratories International during the fourth quarter valued at approximately $539,000. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in Charles River Laboratories International during the fourth quarter valued at approximately $114,000. Hedge funds and other institutional investors own 98.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. 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 report on Wednesday, May 14th. JPMorgan Chase & Co. upped their price target on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Barclays upped their price target 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. Wall Street Zen lowered shares of Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Finally, Robert W. Baird upped their price target on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $175.69.

Charles River Laboratories International Stock Performance

Shares of NYSE:CRL traded up $0.86 during midday trading on Friday, reaching $156.66. The company's stock had a trading volume of 1,038,291 shares, compared to its average volume of 1,079,568. The firm has a market capitalization of $7.71 billion, a PE ratio of -117.79, a P/E/G ratio of 5.00 and a beta of 1.48. Charles River Laboratories International, Inc. has a twelve month low of $91.86 and a twelve month high of $230.02. The stock has a fifty day moving average of $156.87 and a 200 day moving average of $148.86. 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 released its quarterly earnings results on Wednesday, August 6th. The medical research company reported $3.12 EPS for the quarter, beating the consensus estimate of $2.50 by $0.62. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $983.76 million. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The firm's revenue was up .6% on a year-over-year basis. During the same quarter last year, the business earned $2.80 earnings per share. On average, equities analysts expect that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Joseph W. Laplume sold 400 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $150.04, for a total transaction of $60,016.00. Following the sale, the executive vice president owned 24,916 shares in the company, valued at approximately $3,738,396.64. This trade represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% 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).