Charles River Laboratories International (NYSE:CRL) Downgraded to Hold Rating by Wall Street Zen

Charles River Laboratories International (NYSE:CRL) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Friday.

CRL has been the subject of several other research reports. Barclays upped their price target on Charles River Laboratories International from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Argus set a $200.00 target price on shares of Charles River Laboratories International in a research note on Monday, November 17th. Robert W. Baird set a $224.00 target price on shares of Charles River Laboratories International in a report on Friday, January 9th. Citigroup boosted their price target on shares of Charles River Laboratories International from $200.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Finally, Evercore ISI upped their price objective 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, January 13th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $209.46.

Charles River Laboratories International Stock Down 1.9%

CRL stock traded down $4.27 during midday trading on Friday, reaching $219.77. 576,843 shares of the company’s stock traded hands, compared to its average volume of 616,376. The company has a quick ratio of 1.10, a current ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm’s fifty day moving average price is $196.95 and its 200-day moving average price is $176.28. Charles River Laboratories International has a 52 week low of $91.86 and a 52 week high of $228.88. The company has a market cap of $10.82 billion, a price-to-earnings ratio of -140.88, a P/E/G ratio of 6.70 and a beta of 1.61.

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

Institutional Trading of Charles River Laboratories International

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Charles River Laboratories International by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,839,743 shares of the medical research company’s stock valued at $913,686,000 after acquiring an additional 27,989 shares during the period. Allspring Global Investments Holdings LLC grew its holdings 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 purchasing an additional 516,521 shares during the period. Ariel Investments LLC grew its holdings in Charles River Laboratories International by 28.6% during the second quarter. Ariel Investments LLC now owns 1,415,348 shares of the medical research company’s stock valued at $214,751,000 after purchasing an additional 314,572 shares during the period. Invesco Ltd. increased its position in Charles River Laboratories International by 1.0% in the third quarter. Invesco Ltd. now owns 1,249,178 shares of the medical research company’s stock worth $195,446,000 after buying an additional 12,035 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Charles River Laboratories International by 13.4% in the third quarter. Bank of America Corp DE now owns 1,163,348 shares of the medical research company’s stock valued at $182,017,000 after buying an additional 137,335 shares during the period. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Company Profile

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.