Charles River Laboratories International (NYSE:CRL) Upgraded at StockNews.com

StockNews.com upgraded shares of Charles River Laboratories International (NYSE:CRL) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Several other analysts have also issued reports on CRL. UBS Group reduced their price target on shares of 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. Baird R W lowered Charles River Laboratories International from a strong-buy rating to a hold rating in a research note on Thursday, August 8th. Robert W. Baird downgraded Charles River Laboratories International from an outperform rating to a neutral rating and dropped their price objective for the stock from $239.00 to $191.00 in a research report on Thursday, August 8th. The Goldman Sachs Group lowered their target price on Charles River Laboratories International from $290.00 to $250.00 and set a buy rating for the company in a research note on Thursday, August 8th. Finally, TD Cowen decreased their price target on shares of Charles River Laboratories International from $228.00 to $203.00 and set a hold rating on the stock in a report on Monday, August 12th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Charles River Laboratories International presently has a consensus rating of Hold and an average target price of $231.00.

Charles River Laboratories International Stock Up 2.0 %

CRL stock opened at $205.27 on Tuesday. Charles River Laboratories International has a 52 week low of $161.65 and a 52 week high of $275.00. The business has a 50-day simple moving average of $212.80 and a 200 day simple moving average of $230.12. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.73. The company has a market cap of $10.57 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 2.32 and a beta of 1.38.

Charles River Laboratories International announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Charles River Laboratories International

Institutional investors and hedge funds have recently made changes to their positions in the company. Tortoise Investment Management LLC boosted its position in Charles River Laboratories International by 77.0% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after purchasing an additional 57 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Charles River Laboratories International during the 1st quarter worth $41,000. VisionPoint Advisory Group LLC boosted its holdings in shares of Charles River Laboratories International by 45.1% in the 4th quarter. VisionPoint Advisory Group LLC now owns 209 shares of the medical research company’s stock worth $49,000 after buying an additional 65 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Charles River Laboratories International by 76.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical research company’s stock valued at $52,000 after buying an additional 95 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Charles River Laboratories International by 219.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after buying an additional 193 shares during 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).