Charles River Associates (NASDAQ:CRAI) Stock Breaks Above Two Hundred Day Moving Average - Here's Why

Key Points

• Charles River Associates shares broke above their 200-day moving average, reaching $179.99 before last trading at $178.29, compared with the $160.02 long-term average.
• Analysts give CRAI a “Moderate Buy” consensus rating with a $245 target price; the company recently exceeded quarterly expectations, reporting $2.16 EPS and $210.81 million in revenue.
• CRA declared a quarterly dividend of $0.57 per share, equivalent to a $2.28 annualized payout and 1.3% yield, while institutional investors own 84.13% of the stock.

Charles River Associates (NASDAQ:CRAI - Get Free Report) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $160.02 and traded as high as $179.99. Charles River Associates shares last traded at $178.29, with a volume of 98,174 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Charles River Associates from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, September 25th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Charles River Associates currently has an average rating of "Moderate Buy" and a consensus target price of $245.00.

Charles River Associates Trading Up 0.9%

The stock has a market capitalization of $1.12 billion, a PE ratio of 23.74, a PEG ratio of 1.31 and a beta of 0.70. The firm's 50-day simple moving average is $169.76 and its two-hundred day simple moving average is $160.02.

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

Charles River Associates Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Tuesday, August 25th were issued a dividend of $0.57 per share. The ex-dividend date was Tuesday, August 25th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.3%. Charles River Associates's payout ratio is currently 30.36%.

Insiders Place Their Bets

In related news, EVP Jonathan Yellin sold 2,250 shares of the company's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $173.25, for a total transaction of $389,812.50. Following the transaction, the executive vice president directly owned 11,153 shares of the company's stock, valued at approximately $1,932,257.25. The trade was a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On Charles River Associates

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Charles River Associates in the 2nd quarter valued at approximately $91,500,000. Jupiter Topco LLC acquired a new stake in shares of Charles River Associates during the 2nd quarter valued at $19,965,000. Rice Hall James & Associates LLC acquired a new stake in shares of Charles River Associates during the 2nd quarter valued at $11,066,000. SG Americas Securities LLC boosted its stake in shares of Charles River Associates by 86.6% during the 1st quarter. SG Americas Securities LLC now owns 105,339 shares of the business services provider's stock valued at $17,052,000 after buying an additional 48,892 shares during the period. Finally, United Capital Financial Advisors LLC purchased a new position in shares of Charles River Associates during the 2nd quarter valued at $5,959,000. Hedge funds and other institutional investors own 84.13% of the company's stock.

Charles River Associates Company Profile

Charles River Associates NASDAQ: CRAI, operating under the name CRA, is a global consulting firm that provides economic, financial, and strategic analysis to corporations, law firms, government agencies, and other organizations. The company supports clients involved in complex business decisions, litigation, regulatory matters, and corporate transactions.

CRA's services include antitrust and competition economics, intellectual property and commercial disputes, financial and securities analysis, forensic accounting, investigations, corporate strategy, and regulatory consulting.

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