Charles River Associates (NASDAQ:CRAI) Trading Up 8.7% – What’s Next?

Charles River Associates (NASDAQ:CRAI) shares were up 8.7% on Monday . The company traded as high as $185.00 and last traded at $187.76. Approximately 62,134 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 137,432 shares. The stock had previously closed at $172.66.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CRAI. Barrington Research raised their price objective on shares of Charles River Associates from $239.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Charles River Associates in a report on Monday, December 29th. Finally, Wall Street Zen lowered Charles River Associates from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $245.00.

Charles River Associates Stock Up 8.4%

The stock has a market capitalization of $1.23 billion, a P/E ratio of 23.06, a P/E/G ratio of 1.23 and a beta of 0.92. The stock has a 50 day simple moving average of $191.94 and a two-hundred day simple moving average of $191.04.

Charles River Associates (NASDAQ:CRAI) last announced its quarterly earnings data on Thursday, February 26th. The business services provider reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.01. Charles River Associates had a return on equity of 26.15% and a net margin of 7.29%.The company had revenue of $196.96 million for the quarter, compared to analysts’ expectations of $190.54 million. Sell-side analysts predict that Charles River Associates will post 7.52 earnings per share for the current fiscal year.

Charles River Associates Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 10th. Charles River Associates’s payout ratio is 28.04%.

Hedge Funds Weigh In On Charles River Associates

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in shares of Charles River Associates by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 171,401 shares of the business services provider’s stock worth $32,120,000 after buying an additional 3,138 shares during the period. BNP Paribas Financial Markets lifted its position in Charles River Associates by 140.2% during the fourth quarter. BNP Paribas Financial Markets now owns 44,555 shares of the business services provider’s stock worth $8,942,000 after acquiring an additional 26,003 shares during the last quarter. Jump Financial LLC boosted its holdings in shares of Charles River Associates by 72.3% during the third quarter. Jump Financial LLC now owns 32,642 shares of the business services provider’s stock worth $6,807,000 after acquiring an additional 13,692 shares during the period. CSM Advisors LLC bought a new position in shares of Charles River Associates during the second quarter worth approximately $4,923,000. Finally, Rhumbline Advisers grew its holdings in Charles River Associates by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 13,049 shares of the business services provider’s stock valued at $2,445,000 after buying an additional 343 shares in the last quarter. 84.13% of the stock is owned by institutional investors.

About Charles River Associates

Charles River Associates (NASDAQ: CRAI) is a global consulting firm specializing in economic, financial and management advisory services. Founded in 1965 and headquartered in Boston, Massachusetts, the company provides expert analysis to support litigation, regulatory proceedings, and strategic decision-making. Its multidisciplinary teams draw on academic rigor and industry experience to deliver quantitative and qualitative insights tailored to clients’ needs.

The firm’s service offerings include competition economics, antitrust and merger analysis, intellectual property valuation and damages assessment, and risk management.