Charles River Laboratories International (NYSE:CRL) Reaches New 52-Week High – Here’s Why

Charles River Laboratories International, Inc. (NYSE:CRL) hit a new 52-week high on Tuesday . The company traded as high as $228.88 and last traded at $225.56, with a volume of 153606 shares changing hands. The stock had previously closed at $218.82.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CRL. JPMorgan Chase & Co. upped their price target on Charles River Laboratories International from $165.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, December 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Charles River Laboratories International in a report on Wednesday, October 8th. Barclays increased their price objective on shares of Charles River Laboratories International from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Evercore ISI lifted their target price on shares of Charles River Laboratories International from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Robert W. Baird set a $224.00 price target on Charles River Laboratories International in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $203.07.

Charles River Laboratories International Trading Up 3.1%

The stock has a 50-day moving average price of $189.73 and a two-hundred day moving average price of $173.19. The stock has a market capitalization of $10.98 billion, a PE ratio of -143.04, a PEG ratio of 6.55 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.37.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, November 5th. The medical research company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.11. The business 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 company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.59 earnings per share. As a group, equities analysts forecast that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Hedge Funds Weigh In On Charles River Laboratories International

Several large investors have recently made changes to their positions in CRL. Ameriprise Financial Inc. raised its stake in 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 valued at $96,005,000 after purchasing an additional 575,039 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Charles River Laboratories International by 29.1% during the 2nd 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 in the last quarter. National Bank of Canada FI grew its holdings in Charles River Laboratories International by 117.7% during the 3rd quarter. National Bank of Canada FI now owns 946,769 shares of the medical research company’s stock valued at $148,131,000 after buying an additional 511,901 shares in the last quarter. Norges Bank bought a new stake in shares of Charles River Laboratories International during the second quarter valued at approximately $76,952,000. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Charles River Laboratories International by 722.5% in the second quarter. Balyasny Asset Management L.P. now owns 434,226 shares of the medical research company’s stock worth $65,885,000 after buying an additional 381,432 shares in the last quarter. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

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.