Charles River Laboratories Intl. (CRL) Receives “Buy” Rating from Raymond James

Charles River Laboratories Intl. (NYSE:CRL)‘s stock had its “buy” rating reissued by equities research analysts at Raymond James in a report released on Tuesday. They currently have a $150.00 price objective on the medical research company’s stock. Raymond James’ price target suggests a potential upside of 12.26% from the company’s current price.

CRL has been the topic of several other reports. Morgan Stanley upped their price objective on shares of Charles River Laboratories Intl. from $102.00 to $112.00 and gave the company a “hold” rating in a report on Tuesday, September 11th. Barclays upped their price objective on shares of Charles River Laboratories Intl. from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, August 9th. ValuEngine downgraded shares of Charles River Laboratories Intl. from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Credit Suisse Group upped their price objective on shares of Charles River Laboratories Intl. from $121.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, September 25th. Finally, Argus upped their price objective on shares of Charles River Laboratories Intl. from $125.00 to $140.00 and gave the company a “buy” rating in a report on Monday, August 27th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $132.06.

NYSE CRL traded down $3.61 on Tuesday, hitting $133.62. 394,923 shares of the stock were exchanged, compared to its average volume of 376,687. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 1.32. Charles River Laboratories Intl. has a 52 week low of $96.70 and a 52 week high of $139.72. The firm has a market capitalization of $6.49 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 1.90 and a beta of 0.74.

Charles River Laboratories Intl. (NYSE:CRL) last posted its quarterly earnings results on Wednesday, November 7th. The medical research company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.15. Charles River Laboratories Intl. had a net margin of 6.39% and a return on equity of 25.08%. The firm had revenue of $585.30 million for the quarter, compared to analyst estimates of $567.58 million. During the same period in the prior year, the firm posted $1.30 earnings per share. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. On average, research analysts anticipate that Charles River Laboratories Intl. will post 5.92 EPS for the current fiscal year.

In related news, insider David P. Johst sold 23,356 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $136.00, for a total value of $3,176,416.00. Following the transaction, the insider now directly owns 219,849 shares in the company, valued at $29,899,464. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Ross Smith sold 1,866 shares of the company’s stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $134.49, for a total transaction of $250,958.34. Following the completion of the transaction, the insider now owns 12,341 shares in the company, valued at $1,659,741.09. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc acquired a new position in shares of Charles River Laboratories Intl. in the second quarter valued at about $122,000. Brown Brothers Harriman & Co. acquired a new position in shares of Charles River Laboratories Intl. in the third quarter valued at about $202,000. Wsfs Capital Management LLC acquired a new position in shares of Charles River Laboratories Intl. in the second quarter valued at about $203,000. CIBC Private Wealth Group LLC acquired a new position in shares of Charles River Laboratories Intl. in the second quarter valued at about $212,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Charles River Laboratories Intl. in the second quarter valued at about $212,000. Institutional investors and hedge funds own 96.20% of the company’s stock.

Charles River Laboratories Intl. Company Profile

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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Analyst Recommendations for Charles River Laboratories Intl. (NYSE:CRL)

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