Charles River Laboratories International (NYSE:CRL) Sees Unusually-High Trading Volume – Still a Buy?

Charles River Laboratories International, Inc. (NYSE:CRL) shares saw unusually-high trading volume on Thursday . Approximately 252,621 shares traded hands during mid-day trading, a decline of 67% from the previous session’s volume of 758,777 shares.The stock last traded at $162.49 and had previously closed at $173.91.

Analysts Set New Price Targets

A number of analysts have weighed in on CRL shares. Redburn Atlantic initiated coverage on shares of Charles River Laboratories International in a report on Monday, October 14th. They set a “sell” rating and a $151.00 target price on the stock. Bank of America dropped their price objective on shares of Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. CLSA cut shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price on the stock. in a report on Monday, November 18th. UBS Group lifted their target price on Charles River Laboratories International from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, William Blair restated an “outperform” rating on shares of Charles River Laboratories International in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $214.00.

Charles River Laboratories International Stock Performance

The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $192.56 and a 200-day moving average price of $198.95. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 6.62 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.43 by $0.16. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $975.99 million. During the same quarter in the previous year, the company earned $2.72 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Charles River Laboratories International, Inc. will post 10.18 earnings per share for the current year.

Insider Buying and Selling

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $216.12, for a total value of $1,430,930.52. Following the transaction, the director now owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRL. Versant Capital Management Inc increased its holdings in shares of Charles River Laboratories International by 1,071.4% in the fourth quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock valued at $30,000 after buying an additional 150 shares in the last quarter. Wolff Wiese Magana LLC bought a new position in shares of Charles River Laboratories International in the third quarter valued at $32,000. Pinnacle Bancorp Inc. increased its holdings in shares of Charles River Laboratories International by 52.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock valued at $35,000 after buying an additional 65 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Charles River Laboratories International by 1,153.3% in the third quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock valued at $37,000 after buying an additional 173 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Charles River Laboratories International in the fourth quarter valued at $56,000. Institutional investors own 98.91% of the company’s stock.

About Charles River Laboratories International

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).