Charles River Laboratories International (NYSE:CRL) Reaches New 52-Week High – Time to Buy?

Shares of Charles River Laboratories International, Inc. (NYSE:CRL) hit a new 52-week high during trading on Monday . The stock traded as high as $205.00 and last traded at $203.5730, with a volume of 25221 shares traded. The stock had previously closed at $203.66.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Charles River Laboratories International from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Charles River Laboratories International in a research note on Wednesday, October 8th. Wall Street Zen upgraded Charles River Laboratories International from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. William Blair raised Charles River Laboratories International from a “market perform” rating to an “outperform” rating in a research note on Monday, October 6th. Finally, JPMorgan Chase & Co. upped their target price on Charles River Laboratories International from $165.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Charles River Laboratories International currently has an average rating of “Moderate Buy” and an average target price of $195.93.

Charles River Laboratories International Price Performance

The firm has a market cap of $9.98 billion, a P/E ratio of -129.98, a P/E/G ratio of 6.39 and a beta of 1.63. The company has a fifty day moving average of $182.85 and a 200-day moving average of $167.67. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.37 and a quick ratio of 1.10.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings data on Wednesday, November 5th. The medical research company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.11. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $990.43 million. Charles River Laboratories International had a negative net margin of 2.07% and a positive return on equity of 15.78%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.59 EPS. On average, sell-side analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Charles River Laboratories International

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its position in shares of Charles River Laboratories International by 407.0% during the first quarter. Goldman Sachs Group Inc. now owns 997,488 shares of the medical research company’s stock valued at $150,142,000 after acquiring an additional 800,762 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Charles River Laboratories International by 1,491.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 613,604 shares of the medical research company’s stock worth $96,005,000 after purchasing an additional 575,039 shares during the period. Allspring Global Investments Holdings LLC grew its position in Charles River Laboratories International by 29.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,291,126 shares of the medical research company’s stock valued at $353,750,000 after buying an additional 516,521 shares during the period. National Bank of Canada FI increased its holdings in Charles River Laboratories International by 117.7% during the third quarter. National Bank of Canada FI now owns 946,769 shares of the medical research company’s stock worth $148,131,000 after buying an additional 511,901 shares during the last quarter. Finally, Norges Bank bought a new stake in Charles River Laboratories International in the second quarter worth about $76,952,000. Hedge funds and other institutional investors own 98.91% of the company’s stock.

About Charles River Laboratories International

Charles River Laboratories International, Inc is a leading provider of research models and preclinical and clinical support services for the pharmaceutical, biotechnology and medical device industries. The company’s core offerings include discovery, safety assessment, toxicology, and pathology services, as well as supply of laboratory animals and related diagnostics. Services extend across in vivo and in vitro testing, biologics testing, and support for advanced therapies, helping clients accelerate drug development from early discovery through regulatory submission.

Founded in 1947 in Wilmington, Massachusetts, Charles River has grown through strategic investments and acquisitions to establish a broad portfolio of capabilities.