Charles River Associates (NASDAQ:CRAI) Stock Price Breaks Above 200-Day Moving Average - Here's Why

Key Points

• Charles River Associates shares rose above their 200-day moving average of $159.02, reaching $165.34 and closing near $165.22. The company has a $1.04 billion market capitalization.
• Analyst sentiment is moderately bullish, with a “Moderate Buy” consensus and an average price target of $245.00. The company’s latest quarterly results also slightly exceeded expectations, reporting $2.16 in earnings per share and $210.81 million in revenue.
• Charles River Associates maintains a quarterly dividend of $0.57 per share, equivalent to an annualized $2.28 payout and a 1.4% yield. Institutional investors own approximately 84.13% of the company’s stock.

Charles River Associates (NASDAQ:CRAI - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $159.02 and traded as high as $165.34. Charles River Associates shares last traded at $165.22, with a volume of 79,992 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Charles River Associates from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $245.00.

Charles River Associates Stock Performance

The firm has a market cap of $1.04 billion, a P/E ratio of 22.00, a P/E/G ratio of 1.20 and a beta of 0.65. The business's 50-day simple moving average is $170.43 and its 200 day simple moving average is $159.02.

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

Charles River Associates Announces Dividend

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

Insider Transactions at Charles River Associates

In other Charles River Associates news, EVP Jonathan Yellin sold 2,250 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $173.25, for a total transaction of $389,812.50. Following the completion of the sale, the executive vice president directly owned 11,153 shares in the company, valued at $1,932,257.25. The trade was a 16.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.50% of the company's stock.

Institutional Trading of Charles River Associates

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Charles River Associates in the second quarter worth approximately $91,500,000. Jupiter Topco LLC bought a new stake in shares of Charles River Associates during the 2nd quarter valued at $19,965,000. Rice Hall James & Associates LLC purchased a new stake in shares of Charles River Associates in the 2nd quarter worth $11,066,000. SG Americas Securities LLC increased its stake in shares of Charles River Associates by 86.6% in the 1st quarter. SG Americas Securities LLC now owns 105,339 shares of the business services provider's stock worth $17,052,000 after purchasing an additional 48,892 shares in the last quarter. Finally, United Capital Financial Advisors LLC bought a new position in Charles River Associates in the 2nd quarter worth $5,959,000. 84.13% of the stock is currently owned by institutional investors.

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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