JPMorgan Chase & Co. Has Lowered Expectations for Charles River Laboratories International (NYSE:CRL) Stock Price

Charles River Laboratories International (NYSE:CRL - Get Free Report) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $175.00 to $165.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the medical research company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 1.16% from the stock's current price.

Several other research analysts also recently commented on CRL. The Goldman Sachs Group decreased their price target on shares of Charles River Laboratories International from $220.00 to $190.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. TD Cowen lifted their target price on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Morgan Stanley cut their price target on shares of Charles River Laboratories International from $220.00 to $184.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. Bank of America reduced their price objective on 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. Finally, William Blair lowered Charles River Laboratories International from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 22nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $195.71.

Charles River Laboratories International Price Performance

NYSE:CRL traded up $0.86 during midday trading on Thursday, hitting $163.11. The company had a trading volume of 1,215,947 shares, compared to its average volume of 1,060,465. The company has a market capitalization of $8.34 billion, a PE ratio of 1,087.39, a P/E/G ratio of 6.77 and a beta of 1.37. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. Charles River Laboratories International has a 52-week low of $150.79 and a 52-week high of $275.00. The stock's fifty day moving average price is $172.84 and its 200-day moving average price is $188.37.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The medical research company reported $2.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.50 by $0.16. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $983.63 million. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 EPS. As a group, research analysts expect that Charles River Laboratories International will post 9.41 earnings per share for the current year.

Insider Activity at Charles River Laboratories International

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 4,400 shares of Charles River Laboratories International stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $162.50, for a total transaction of $715,000.00. Following the sale, the executive vice president now directly owns 20,013 shares of the company's stock, valued at approximately $3,252,112.50. The trade was a 18.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James C. Foster bought 6,075 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was purchased at an average cost of $165.01 per share, with a total value of $1,002,435.75. Following the transaction, the chief executive officer now directly owns 183,639 shares in the company, valued at approximately $30,302,271.39. This represents a 3.42 % increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Charles River Laboratories International

A number of hedge funds and other institutional investors have recently modified their holdings of CRL. Empirical Finance LLC boosted its stake in Charles River Laboratories International by 4.2% during the third quarter. Empirical Finance LLC now owns 1,310 shares of the medical research company's stock worth $258,000 after acquiring an additional 53 shares in the last quarter. Fiduciary Financial Group LLC lifted its holdings in shares of Charles River Laboratories International by 3.9% during the fourth quarter. Fiduciary Financial Group LLC now owns 1,665 shares of the medical research company's stock valued at $310,000 after purchasing an additional 63 shares during the last quarter. Pinnacle Bancorp Inc. boosted its position in shares of Charles River Laboratories International by 52.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company's stock worth $35,000 after purchasing an additional 65 shares in the last quarter. M&T Bank Corp grew its stake in shares of Charles River Laboratories International by 3.4% in the 3rd quarter. M&T Bank Corp now owns 2,001 shares of the medical research company's stock worth $394,000 after buying an additional 66 shares during the last quarter. Finally, Cornerstone Investment Partners LLC grew its stake in shares of Charles River Laboratories International by 3.7% in the 4th quarter. Cornerstone Investment Partners LLC now owns 1,940 shares of the medical research company's stock worth $358,000 after buying an additional 69 shares during the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

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).