Charles River Laboratories International (NYSE:CRL) Upgraded to Neutral at Citigroup

Charles River Laboratories International (NYSE:CRL - Get Free Report) was upgraded by equities researchers at Citigroup from a "sell" rating to a "neutral" rating in a research report issued on Tuesday, Marketbeat reports. The firm presently has a $175.00 price objective on the medical research company's stock, up from their prior price objective of $155.00. Citigroup's price objective would indicate a potential downside of 0.68% from the company's current price.

Several other research analysts have also issued reports on CRL. Morgan Stanley dropped their target price on 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. Barclays dropped their price objective on Charles River Laboratories International from $205.00 to $166.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. CLSA lowered Charles River Laboratories International from a "hold" rating to an "underperform" rating and set a $164.00 target price on the stock. in a research note on Monday, November 18th. Redburn Atlantic raised shares of Charles River Laboratories International from a "sell" rating to a "neutral" rating and set a $188.00 target price for the company in a research note on Monday. Finally, Evercore ISI upped their price target on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Charles River Laboratories International currently has a consensus rating of "Hold" and an average target price of $198.36.

Remove Ads

Charles River Laboratories International Trading Up 4.1 %

Shares of NYSE:CRL traded up $6.93 during trading on Tuesday, hitting $176.20. The company had a trading volume of 1,169,106 shares, compared to its average volume of 698,205. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of 1,174.68, a price-to-earnings-growth ratio of 4.54 and a beta of 1.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.14. The company has a fifty day simple moving average of $169.35 and a two-hundred day simple moving average of $186.07. Charles River Laboratories International has a one year low of $150.79 and a one year high of $275.00.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its quarterly earnings results 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. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.63 million. During the same period last year, the company earned $2.46 earnings per share. Charles River Laboratories International's revenue was down 1.1% on a year-over-year basis. As a group, equities analysts forecast that Charles River Laboratories International will post 9.36 earnings per share for the current year.

Insider Activity

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 4,400 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $162.50, for a total value of $715,000.00. Following the completion of the sale, the executive vice president now directly owns 20,013 shares in the company, valued at $3,252,112.50. This trade represents a 18.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Birgit Girshick purchased 1,514 shares of the business's stock in a transaction on Thursday, February 20th. The stock was purchased at an average cost of $164.63 per share, for a total transaction of $249,249.82. Following the completion of the acquisition, the chief operating officer now directly owns 55,058 shares of the company's stock, valued at approximately $9,064,198.54. The trade was a 2.83 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company's stock.

Institutional Trading of Charles River Laboratories International

A number of institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in Charles River Laboratories International by 135,927.9% in the third quarter. Wellington Management Group LLP now owns 3,740,768 shares of the medical research company's stock valued at $736,819,000 after buying an additional 3,738,018 shares during the last quarter. D1 Capital Partners L.P. acquired a new position in shares of Charles River Laboratories International during the fourth quarter valued at about $172,752,000. Norges Bank purchased a new position in shares of Charles River Laboratories International in the 4th quarter valued at approximately $98,886,000. Nomura Holdings Inc. acquired a new stake in Charles River Laboratories International in the 4th quarter worth approximately $56,820,000. Finally, Raymond James Financial Inc. purchased a new stake in Charles River Laboratories International during the 4th quarter worth approximately $42,776,000. Institutional investors and hedge funds own 98.91% of the company's stock.

Charles River Laboratories International Company Profile

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).