Charles River Associates (NASDAQ:CRAI) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Charles River Associates shares rose above their 200-day moving average, reaching $168.92 before closing at $164.99. The stock’s 200-day average is $159.91, while its 50-day average is $170.91.
• Analysts have a “Moderate Buy” consensus rating and an average price target of $245.00, though ratings are split between Buy and Hold.
• The company exceeded quarterly expectations with $2.16 in earnings per share and $210.81 million in revenue, while maintaining a quarterly dividend of $0.57 per share, equivalent to a 1.4% yield.

Shares of Charles River Associates (NASDAQ:CRAI - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $159.91 and traded as high as $168.92. Charles River Associates shares last traded at $164.99, with a volume of 87,747 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Charles River Associates in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $245.00.

Charles River Associates Stock Performance

The business's 50-day moving average is $170.91 and its two-hundred day moving average is $159.91. The stock has a market capitalization of $1.04 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 1.23 and a beta of 0.65.

Charles River Associates (NASDAQ:CRAI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.01. Charles River Associates had a net margin of 6.20% and a return on equity of 27.31%. The company had revenue of $210.81 million during the quarter, compared to the consensus estimate of $198.91 million. Equities analysts forecast that Charles River Associates will post 8.43 EPS for the current year.

Charles River Associates Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Tuesday, August 25th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 25th. Charles River Associates's dividend payout ratio is currently 30.36%.

Insider Buying and Selling

In related news, EVP Jonathan Yellin sold 2,250 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $173.25, for a total value of $389,812.50. Following the completion of the sale, the executive vice president owned 11,153 shares in the company, valued at $1,932,257.25. This trade represents a 16.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.50% of the stock is currently owned by insiders.

Institutional Trading of Charles River Associates

Hedge funds have recently modified their holdings of the business. United Capital Financial Advisors LLC acquired a new stake in shares of Charles River Associates in the 2nd quarter valued at approximately $5,959,000. Dearborn Partners LLC acquired a new position in Charles River Associates during the second quarter worth $357,000. Corient Private Wealth LP acquired a new position in Charles River Associates during the second quarter worth $890,000. Bank of America Corp DE purchased a new position in Charles River Associates in the second quarter worth $3,046,000. Finally, Freestone Grove Partners LP purchased a new position in Charles River Associates in the second quarter worth $590,000. 84.13% of the stock is owned by institutional investors and hedge funds.

Charles River Associates Company Profile

Charles River Associates NASDAQ: CRAI is a global consulting firm that provides economic, financial, and management consulting services to corporations, law firms, government agencies, and other organizations. The company supports clients on complex business, regulatory, legal, and strategic matters.

Its services include economic and competition analysis, antitrust and merger-related consulting, litigation support, regulatory and public policy advice, financial and valuation analysis, and business strategy.

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