Charles River Laboratories International, Inc. (CRL) Price Target Cut to $115.00

Charles River Laboratories International, Inc. (NYSE:CRL) had its price target cut by Bank of America Corporation from $117.00 to $115.00 in a research report report published on Friday. They currently have a buy rating on the medical research company’s stock.

Several other brokerages also recently weighed in on CRL. Zacks Investment Research downgraded Charles River Laboratories International from a buy rating to a hold rating in a research report on Tuesday, July 25th. Robert W. Baird reiterated a buy rating and issued a $114.00 price objective on shares of Charles River Laboratories International in a research report on Friday, September 1st. Credit Suisse Group reiterated a neutral rating and issued a $112.00 price objective (up previously from $95.00) on shares of Charles River Laboratories International in a research report on Monday, October 16th. BidaskClub downgraded Charles River Laboratories International from a strong-buy rating to a buy rating in a research report on Monday, July 31st. Finally, Barclays PLC reiterated a hold rating and issued a $102.00 price objective on shares of Charles River Laboratories International in a research report on Wednesday, July 19th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Charles River Laboratories International has an average rating of Buy and a consensus price target of $106.05.

Charles River Laboratories International (NYSE:CRL) traded down $1.18 during trading hours on Friday, reaching $100.75. The company had a trading volume of 114,237 shares, compared to its average volume of 381,315. The company has a market cap of $4,836.56, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 1.63 and a beta of 0.94. Charles River Laboratories International has a one year low of $69.51 and a one year high of $119.05. The company has a quick ratio of 1.62, a current ratio of 1.88 and a debt-to-equity ratio of 1.13.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Thursday, November 9th. The medical research company reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.08. Charles River Laboratories International had a return on equity of 26.58% and a net margin of 10.72%. The company had revenue of $464.23 million during the quarter, compared to the consensus estimate of $458.93 million. During the same quarter in the previous year, the company posted $1.18 EPS. Charles River Laboratories International’s quarterly revenue was up 9.0% compared to the same quarter last year. research analysts anticipate that Charles River Laboratories International will post 5.12 EPS for the current fiscal year.

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In related news, insider Davide Molho sold 5,982 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $107.55, for a total value of $643,364.10. Following the sale, the insider now directly owns 22,714 shares of the company’s stock, valued at $2,442,890.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bradley Nixon Scharfe sold 1,000,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $0.27, for a total value of $270,000.00. Over the last ninety days, insiders purchased 10,500 shares of company stock worth $2,885 and sold 1,016,147 shares worth $1,991,154. 2.20% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. YorkBridge Wealth Partners LLC grew its stake in Charles River Laboratories International by 445.5% in the third quarter. YorkBridge Wealth Partners LLC now owns 1,091 shares of the medical research company’s stock worth $118,000 after purchasing an additional 891 shares during the period. Advisor Group Inc. grew its stake in Charles River Laboratories International by 159.4% in the third quarter. Advisor Group Inc. now owns 1,538 shares of the medical research company’s stock worth $165,000 after purchasing an additional 945 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Charles River Laboratories International by 12.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,791 shares of the medical research company’s stock worth $181,000 after purchasing an additional 202 shares during the period. Riverhead Capital Management LLC boosted its holdings in Charles River Laboratories International by 14.7% in the second quarter. Riverhead Capital Management LLC now owns 1,931 shares of the medical research company’s stock worth $195,000 after acquiring an additional 247 shares in the last quarter. Finally, Cambridge Advisors Inc. bought a new stake in Charles River Laboratories International in the second quarter worth $202,000. 97.46% of the stock is currently owned by institutional investors.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc is an early-stage contract research company. The Company is engaged in laboratory animal medicine and science (research model technologies) and develop a portfolio of discovery and safety assessment services, both good laboratory practice (GLP) and non-GLP, which supports its clients from target identification through non-clinical development.

Analyst Recommendations for Charles River Laboratories International (NYSE:CRL)

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