Brokerages Set Charles River Laboratories International, Inc. (NYSE:CRL) PT at $231.00

Charles River Laboratories International, Inc. (NYSE:CRL) has been assigned an average recommendation of “Hold” from the fourteen brokerages that are covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $231.00.

CRL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $270.00 to $205.00 in a research report on Thursday, August 8th. The Goldman Sachs Group cut their target price on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. UBS Group cut their target price on Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Robert W. Baird downgraded Charles River Laboratories International from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $239.00 to $191.00 in a report on Thursday, August 8th. Finally, Argus reiterated a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th.

Charles River Laboratories International Stock Down 1.5 %

Shares of Charles River Laboratories International stock opened at $201.24 on Friday. The stock’s fifty day moving average is $213.02 and its 200-day moving average is $230.32. The firm has a market capitalization of $10.37 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 2.32 and a beta of 1.38. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.73. Charles River Laboratories International has a 12-month low of $161.65 and a 12-month high of $275.00.

Charles River Laboratories International declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire up to 9.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers grew its stake in Charles River Laboratories International by 2.4% in the second quarter. Cetera Investment Advisers now owns 9,969 shares of the medical research company’s stock valued at $2,059,000 after purchasing an additional 229 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Charles River Laboratories International by 13.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 50,451 shares of the medical research company’s stock worth $10,422,000 after acquiring an additional 6,011 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Charles River Laboratories International by 73.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 239,913 shares of the medical research company’s stock worth $49,561,000 after acquiring an additional 101,732 shares in the last quarter. MBB Public Markets I LLC boosted its stake in shares of Charles River Laboratories International by 9.6% during the 2nd quarter. MBB Public Markets I LLC now owns 88,383 shares of the medical research company’s stock worth $18,258,000 after acquiring an additional 7,736 shares in the last quarter. Finally, Daventry Group LP boosted its stake in shares of Charles River Laboratories International by 3.5% during the 2nd quarter. Daventry Group LP now owns 119,695 shares of the medical research company’s stock worth $24,727,000 after acquiring an additional 4,033 shares in the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).