Charles River Laboratories International, Inc. (NYSE:CRL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Charles River Laboratories is a leading provider of critical research tools and integrated support services that enable innovative and efficient drug discovery and development. Charles River is the global leader in providing the animal research models required in research and development for new drugs, devices and therapies and has been in this business for more than 50 years. “

Several other equities analysts have also recently commented on the stock. BidaskClub cut shares of Charles River Laboratories International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Barclays PLC reissued a “hold” rating and set a $102.00 target price on shares of Charles River Laboratories International in a research report on Wednesday, July 19th. Jefferies Group LLC reissued a “buy” rating and set a $121.00 target price on shares of Charles River Laboratories International in a research report on Friday, June 30th. Citigroup Inc. reissued a “neutral” rating and set a $104.00 target price (up previously from $91.00) on shares of Charles River Laboratories International in a research report on Wednesday, June 28th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $95.00 target price (up previously from $89.00) on shares of Charles River Laboratories International in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $96.94.

Shares of Charles River Laboratories International (CRL) traded up 1.29% during mid-day trading on Friday, hitting $97.97. The stock had a trading volume of 499,107 shares. The firm’s 50 day moving average price is $99.87 and its 200 day moving average price is $91.54. The company has a market cap of $4.66 billion, a P/E ratio of 25.82 and a beta of 1.02. Charles River Laboratories International has a 1-year low of $67.20 and a 1-year high of $102.32.

Charles River Laboratories International (NYSE:CRL) last posted its earnings results on Wednesday, August 9th. The medical research company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.07. Charles River Laboratories International had a net margin of 10.13% and a return on equity of 27.02%. The firm had revenue of $469.13 million for the quarter, compared to analysts’ expectations of $458.25 million. During the same quarter last year, the firm earned $1.20 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Analysts predict that Charles River Laboratories International will post $5.10 earnings per share for the current fiscal year.

Charles River Laboratories International declared that its board has approved a share repurchase plan on Wednesday, May 10th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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In other news, Director George Massaro sold 3,830 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $100.81, for a total transaction of $386,102.30. Following the completion of the transaction, the director now directly owns 18,731 shares in the company, valued at approximately $1,888,272.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James C. Foster sold 9,516 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $98.92, for a total transaction of $941,322.72. Following the transaction, the chairman now owns 361,171 shares of the company’s stock, valued at $35,727,035.32. The disclosure for this sale can be found here. Insiders have sold a total of 79,369 shares of company stock valued at $7,846,412 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of CRL. BlackRock Inc. increased its stake in Charles River Laboratories International by 12,573.1% in the first quarter. BlackRock Inc. now owns 3,845,643 shares of the medical research company’s stock worth $345,915,000 after buying an additional 3,815,298 shares in the last quarter. Columbus Circle Investors increased its stake in Charles River Laboratories International by 170.2% in the first quarter. Columbus Circle Investors now owns 75,724 shares of the medical research company’s stock worth $6,811,000 after buying an additional 47,703 shares in the last quarter. Gotham Asset Management LLC increased its stake in Charles River Laboratories International by 4,129.0% in the first quarter. Gotham Asset Management LLC now owns 116,298 shares of the medical research company’s stock worth $10,461,000 after buying an additional 113,548 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Charles River Laboratories International by 4.3% in the first quarter. Mutual of America Capital Management LLC now owns 38,427 shares of the medical research company’s stock worth $3,457,000 after buying an additional 1,579 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Charles River Laboratories International during the first quarter worth about $506,000. 95.81% of the stock is owned by institutional investors.

About Charles River Laboratories International

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.

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

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