Charles River Laboratories Intl. (CRL) Receives “Buy” Rating from Raymond James

Raymond James restated their buy rating on shares of Charles River Laboratories Intl. (NYSE:CRL) in a research report sent to investors on Tuesday. They currently have a $150.00 price objective on the medical research company’s stock.

A number of other equities research analysts also recently weighed in on CRL. SunTrust Banks lifted their target price on Charles River Laboratories Intl. to $135.00 and gave the stock a buy rating in a report on Thursday, August 9th. Jefferies Financial Group lifted their target price on Charles River Laboratories Intl. from $140.00 to $145.00 and gave the stock a buy rating in a report on Thursday, August 9th. Barclays lifted their target price on Charles River Laboratories Intl. from $110.00 to $120.00 and gave the stock an equal weight rating in a report on Thursday, August 9th. Credit Suisse Group lowered their target price on Charles River Laboratories Intl. from $129.00 to $121.00 and set a neutral rating for the company in a report on Tuesday, August 21st. Finally, Argus lifted their target price on Charles River Laboratories Intl. from $125.00 to $140.00 and gave the stock a buy rating in a report on Monday, August 27th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Charles River Laboratories Intl. has a consensus rating of Buy and a consensus target price of $132.06.

Shares of CRL stock opened at $128.86 on Tuesday. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 1.84 and a beta of 0.74. The company has a quick ratio of 1.32, a current ratio of 1.55 and a debt-to-equity ratio of 1.32. Charles River Laboratories Intl. has a fifty-two week low of $96.70 and a fifty-two week high of $139.72.

Charles River Laboratories Intl. (NYSE:CRL) last issued its earnings results on Wednesday, November 7th. The medical research company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.15. The business had revenue of $585.30 million during the quarter, compared to the consensus estimate of $567.58 million. Charles River Laboratories Intl. had a return on equity of 25.08% and a net margin of 6.39%. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 earnings per share. On average, research analysts anticipate that Charles River Laboratories Intl. will post 5.92 earnings per share for the current year.

In related news, insider David Ross Smith sold 1,866 shares of Charles River Laboratories Intl. stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $134.49, for a total transaction of $250,958.34. Following the transaction, the insider now owns 12,341 shares of the company’s stock, valued at $1,659,741.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David P. Johst sold 23,356 shares of Charles River Laboratories Intl. stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $136.00, for a total value of $3,176,416.00. Following the transaction, the insider now directly owns 219,849 shares in the company, valued at approximately $29,899,464. The disclosure for this sale can be found here. Insiders sold 28,662 shares of company stock valued at $3,887,543 in the last three months. Insiders own 2.10% of the company’s stock.

Several large investors have recently made changes to their positions in CRL. NumerixS Investment Technologies Inc purchased a new position in shares of Charles River Laboratories Intl. during the second quarter valued at approximately $122,000. Brown Brothers Harriman & Co. purchased a new position in shares of Charles River Laboratories Intl. during the third quarter valued at approximately $202,000. Wsfs Capital Management LLC purchased a new position in shares of Charles River Laboratories Intl. during the second quarter valued at approximately $203,000. CIBC Private Wealth Group LLC purchased a new position in shares of Charles River Laboratories Intl. during the second quarter valued at approximately $212,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Charles River Laboratories Intl. during the second quarter valued at approximately $212,000. 96.20% of the stock is currently owned by institutional investors.

About Charles River Laboratories Intl.

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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