Charles River Laboratories Intl. (CRL) Coverage Initiated by Analysts at UBS Group

UBS Group began coverage on shares of Charles River Laboratories Intl. (NYSE:CRL) in a report released on Tuesday morning, 99wallstreet.com reports. The brokerage issued a neutral rating and a $140.00 target price on the medical research company’s stock.

A number of other equities analysts also recently commented on CRL. KeyCorp upgraded Charles River Laboratories Intl. from a sector weight rating to an overweight rating and upped their target price for the company from $115.85 to $130.00 in a report on Friday, June 15th. Bank of America upped their target price on Charles River Laboratories Intl. from $120.00 to $125.00 and gave the company a buy rating in a report on Monday, July 16th. Royal Bank of Canada upgraded Charles River Laboratories Intl. from a sector perform rating to an outperform rating and set a $131.00 target price for the company in a report on Tuesday, July 17th. ValuEngine upgraded Charles River Laboratories Intl. from a hold rating to a buy rating in a report on Wednesday, July 18th. Finally, Jefferies Financial Group restated a buy rating and set a $140.00 target price on shares of Charles River Laboratories Intl. in a report on Friday, July 20th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $128.50.

NYSE:CRL opened at $122.99 on Tuesday. The company has a market cap of $6.46 billion, a PE ratio of 23.34, a P/E/G ratio of 1.69 and a beta of 0.65. Charles River Laboratories Intl. has a fifty-two week low of $96.70 and a fifty-two week high of $135.90. The company has a quick ratio of 1.48, a current ratio of 1.72 and a debt-to-equity ratio of 1.52.

Charles River Laboratories Intl. (NYSE:CRL) last released its quarterly earnings data on Wednesday, August 8th. The medical research company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.16. The firm had revenue of $585.30 million during the quarter, compared to analyst estimates of $570.65 million. Charles River Laboratories Intl. had a return on equity of 25.26% and a net margin of 6.38%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Sell-side analysts anticipate that Charles River Laboratories Intl. will post 5.91 earnings per share for the current year.

In other Charles River Laboratories Intl. news, Director Deborah Turner Kochevar sold 4,066 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $123.66, for a total value of $502,801.56. Following the completion of the transaction, the director now owns 10,190 shares in the company, valued at $1,260,095.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Birgit Girshick sold 3,978 shares of the stock in a transaction on Tuesday, July 17th. The stock was sold at an average price of $119.90, for a total value of $476,962.20. Following the completion of the transaction, the insider now owns 18,999 shares of the company’s stock, valued at approximately $2,277,980.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,019 shares of company stock valued at $3,914,826. 2.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CRL. BlackRock Inc. raised its holdings in Charles River Laboratories Intl. by 7.0% in the second quarter. BlackRock Inc. now owns 4,446,965 shares of the medical research company’s stock worth $499,216,000 after purchasing an additional 292,685 shares in the last quarter. Bank of Montreal Can raised its holdings in Charles River Laboratories Intl. by 1,910.1% in the third quarter. Bank of Montreal Can now owns 221,355 shares of the medical research company’s stock worth $29,781,000 after purchasing an additional 210,343 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Charles River Laboratories Intl. by 99.1% in the second quarter. Assenagon Asset Management S.A. now owns 261,857 shares of the medical research company’s stock worth $29,396,000 after purchasing an additional 130,325 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Charles River Laboratories Intl. by 26.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 382,582 shares of the medical research company’s stock worth $42,949,000 after purchasing an additional 80,519 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Charles River Laboratories Intl. by 64.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 202,716 shares of the medical research company’s stock worth $22,757,000 after purchasing an additional 79,619 shares in the last quarter. Institutional investors and hedge funds own 97.78% of the company’s stock.

Charles River Laboratories Intl. Company Profile

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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Analyst Recommendations for Charles River Laboratories Intl. (NYSE:CRL)

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