Bank of America 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 lowered by stock analysts at Bank of America from $220.00 to $210.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the medical research company's stock. Bank of America's target price indicates a potential upside of 10.26% from the stock's previous close.

Several other equities research analysts have also issued reports on the company. CLSA lowered Charles River Laboratories International from a "hold" rating to an "underperform" rating and set a $164.00 price target for the company. in a research note on Monday, November 18th. Citigroup cut shares of Charles River Laboratories International from a "neutral" rating to a "sell" rating and reduced their price target for the company from $215.00 to $175.00 in a research report on Tuesday, October 1st. TD Cowen upped their price objective on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the company a "hold" rating in a research note on Monday, November 11th. UBS Group lifted their target price on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, StockNews.com downgraded Charles River Laboratories International from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $214.00.

Charles River Laboratories International Price Performance

CRL traded down $3.81 during trading on Friday, reaching $190.46. 547,747 shares of the company were exchanged, compared to its average volume of 616,658. Charles River Laboratories International has a 12-month low of $176.48 and a 12-month high of $275.00. The company's 50-day moving average is $194.35 and its two-hundred day moving average is $203.10. 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 market cap of $9.74 billion, a price-to-earnings ratio of 23.84, a P/E/G ratio of 5.00 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.43 by $0.16. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The company's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.72 earnings per share. Research analysts forecast that Charles River Laboratories International will post 10.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the completion of the transaction, the director now owns 12,386 shares of the company's stock, valued at approximately $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boston Trust Walden Corp lifted its position in Charles River Laboratories International by 2.8% in the 2nd quarter. Boston Trust Walden Corp now owns 200,314 shares of the medical research company's stock valued at $41,381,000 after acquiring an additional 5,375 shares in the last quarter. State Street Corp increased its holdings in Charles River Laboratories International by 2.0% in the 3rd quarter. State Street Corp now owns 2,130,279 shares of the medical research company's stock worth $419,601,000 after buying an additional 41,421 shares in the last quarter. Quest Partners LLC raised its position in Charles River Laboratories International by 135,175.0% in the 2nd quarter. Quest Partners LLC now owns 5,411 shares of the medical research company's stock worth $1,118,000 after buying an additional 5,407 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Charles River Laboratories International by 3.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,995 shares of the medical research company's stock valued at $22,060,000 after acquiring an additional 3,714 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Charles River Laboratories International by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 515,222 shares of the medical research company's stock valued at $101,483,000 after acquiring an additional 32,311 shares during the last quarter. 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).