Charles River Laboratories International (NYSE:CRL) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Charles River Laboratories International (NYSE:CRL) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

A number of other research firms have also commented on CRL. Robert W. Baird upped their price target on Charles River Laboratories International from $291.00 to $334.00 and gave the company an “outperform” rating in a research report on Friday, September 25th. Royal Bank Of Canada lifted their price objective on Charles River Laboratories International from $322.00 to $352.00 and gave the stock an “outperform” rating in a research report on Thursday. Mizuho boosted their target price on Charles River Laboratories International from $264.00 to $295.00 and gave the company a “neutral” rating in a research note on Friday, September 25th. Jefferies Financial Group upped their target price on Charles River Laboratories International from $305.00 to $340.00 and gave the company a “buy” rating in a report on Monday, September 28th. Finally, Morgan Stanley raised their price target on Charles River Laboratories International from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $308.17.

Charles River Laboratories International Price Performance

CRL stock opened at $337.91 on Friday. The firm’s 50-day moving average price is $305.71 and its two-hundred day moving average price is $225.19. Charles River Laboratories International has a 12-month low of $146.20 and a 12-month high of $379.63. The stock has a market capitalization of $16.19 billion, a price-to-earnings ratio of 371.33, a PEG ratio of 3.14 and a beta of 1.36. The company has a current ratio of 1.41, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Wednesday, November 4th. The medical research company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.97 by $0.12. The firm had revenue of $982.73 million during the quarter, compared to the consensus estimate of $960.36 million. Charles River Laboratories International had a net margin of 1.01% and a return on equity of 16.95%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.43 earnings per share. As a group, equities analysts predict that Charles River Laboratories International will post 11.44 earnings per share for the current year.

Insider Transactions at Charles River Laboratories International

In other news, EVP Shannon M. Parisotto sold 2,156 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $344.41, for a total value of $742,547.96. Following the completion of the transaction, the executive vice president owned 4,807 shares in the company, valued at $1,655,578.87. This trade represents a 30.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy C. Andrews sold 573 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $285.24, for a total value of $163,442.52. Following the completion of the transaction, the director owned 1,438 shares of the company’s stock, valued at approximately $410,175.12. The trade was a 28.49% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 102,299 shares of company stock valued at $31,050,863. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Charles River Laboratories International

Institutional investors have recently added to or reduced their stakes in the company. Aberdeen Group plc grew its holdings in Charles River Laboratories International by 483.6% during the third quarter. Aberdeen Group plc now owns 792,576 shares of the medical research company’s stock valued at $233,818,000 after purchasing an additional 656,777 shares during the period. Amundi boosted its position in shares of Charles River Laboratories International by 175.2% during the first quarter. Amundi now owns 773,315 shares of the medical research company’s stock worth $133,397,000 after purchasing an additional 492,301 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Charles River Laboratories International by 457.3% during the third quarter. Russell Investments Group Ltd. now owns 436,055 shares of the medical research company’s stock worth $128,641,000 after purchasing an additional 357,817 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Charles River Laboratories International by 14.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,652,484 shares of the medical research company’s stock valued at $285,001,000 after buying an additional 210,260 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Charles River Laboratories International by 230.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 204,537 shares of the medical research company’s stock valued at $59,044,000 after buying an additional 142,716 shares during the period. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Company Profile

Charles River Laboratories International is a contract research organization that supports pharmaceutical and biotechnology companies, as well as academic and government researchers, in developing medicines and advancing scientific research. Its services span the drug development process, from early discovery and preclinical research to manufacturing support.

The company’s offerings include research models and related services, drug discovery and safety assessment, and manufacturing solutions.