Charles River Laboratories International (NYSE:CRL) Rating Lowered to Hold at Zacks Investment Research

Charles River Laboratories International (NYSE:CRL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, November 13th.

According to Zacks, “Charles River Laboratories is a leading provider of critical research tools and integrated support services that enable innovative and efficient drug discovery and development. Charles River is the global leader in providing the animal research models required in research and development for new drugs, devices and therapies and has been in this business for more than 50 years. “

A number of other brokerages have also commented on CRL. Credit Suisse Group reissued a “neutral” rating and set a $112.00 price objective (up previously from $95.00) on shares of Charles River Laboratories International in a report on Monday, October 16th. Jefferies Group raised their target price on shares of Charles River Laboratories International from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 9th. Robert W. Baird reaffirmed a “buy” rating and issued a $114.00 target price on shares of Charles River Laboratories International in a research note on Friday, September 1st. Royal Bank Of Canada started coverage on shares of Charles River Laboratories International in a research report on Tuesday, September 19th. They issued a “sector perform” rating and a $110.00 price target on the stock. Finally, ValuEngine downgraded shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Charles River Laboratories International has a consensus rating of “Buy” and an average target price of $106.63.

Charles River Laboratories International (CRL) traded up $0.09 during trading hours on Monday, reaching $104.29. 358,463 shares of the company traded hands, compared to its average volume of 453,786. Charles River Laboratories International has a 1 year low of $69.51 and a 1 year high of $119.05. The firm has a market cap of $4,940.00, a PE ratio of 20.47, a P/E/G ratio of 1.66 and a beta of 0.94. The company has a current ratio of 1.88, a quick ratio of 1.62 and a debt-to-equity ratio of 1.13.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings data on Thursday, November 9th. The medical research company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. Charles River Laboratories International had a net margin of 10.72% and a return on equity of 26.58%. The company had revenue of $464.23 million during the quarter, compared to analysts’ expectations of $458.93 million. During the same quarter in the prior year, the company posted $1.18 EPS. The business’s revenue was up 9.0% on a year-over-year basis. research analysts forecast that Charles River Laboratories International will post 5.13 EPS for the current fiscal year.

In related news, insider Davide Molho sold 6,165 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $110.00, for a total value of $678,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley Nixon Scharfe sold 1,000,000 shares of Charles River Laboratories International stock in a transaction on Friday, November 10th. The stock was sold at an average price of $0.27, for a total transaction of $270,000.00. Over the last three months, insiders purchased 10,500 shares of company stock valued at $2,885 and sold 1,012,147 shares valued at $1,591,514. 2.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in CRL. Lord Abbett & CO. LLC bought a new position in Charles River Laboratories International during the second quarter worth $65,915,000. FMR LLC lifted its holdings in shares of Charles River Laboratories International by 23.8% during the second quarter. FMR LLC now owns 3,079,179 shares of the medical research company’s stock worth $311,458,000 after buying an additional 591,066 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Charles River Laboratories International by 81.7% during the third quarter. Mackenzie Financial Corp now owns 928,796 shares of the medical research company’s stock worth $100,329,000 after buying an additional 417,739 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Charles River Laboratories International during the third quarter worth $35,182,000. Finally, FIL Ltd lifted its holdings in shares of Charles River Laboratories International by 325.4% during the second quarter. FIL Ltd now owns 417,465 shares of the medical research company’s stock worth $42,227,000 after buying an additional 319,324 shares in the last quarter. 96.24% of the stock is owned by hedge funds and other institutional investors.

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Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc is an early-stage contract research company. The Company is engaged in laboratory animal medicine and science (research model technologies) and develop a portfolio of discovery and safety assessment services, both good laboratory practice (GLP) and non-GLP, which supports its clients from target identification through non-clinical development.

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