Charles River Laboratories International (NYSE:CRL) Sees Unusually-High Trading Volume - Here's Why

Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 252,621 shares changed hands during mid-day trading, a decline of 67% from the previous session's volume of 758,777 shares.The stock last traded at $162.49 and had previously closed at $173.91.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRL. Robert W. Baird reduced their price target on Charles River Laboratories International from $191.00 to $190.00 and set a "neutral" rating for the company in a report on Friday, September 20th. Evercore ISI upped their target price on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Redburn Atlantic initiated coverage on shares of Charles River Laboratories International in a research report on Monday, October 14th. They set a "sell" rating and a $151.00 price target for the company. TD Cowen upped their price objective on Charles River Laboratories International from $203.00 to $227.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Finally, Bank of America dropped 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 report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Charles River Laboratories International presently has a consensus rating of "Hold" and an average target price of $209.00.

Charles River Laboratories International Price Performance

The firm has a market cap of $8.37 billion, a P/E ratio of 20.50, a P/E/G ratio of 6.62 and a beta of 1.38. The firm's fifty day simple moving average is $191.67 and its 200 day simple moving average is $198.72. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.14 and a current ratio of 1.48.

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

Insider Transactions at Charles River Laboratories International

In related news, Director Richard F. Wallman sold 6,621 shares of Charles River Laboratories International stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $216.12, for a total value of $1,430,930.52. Following the completion of the transaction, the director now owns 12,386 shares in the company, valued at approximately $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Charles River Laboratories International

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new stake in Charles River Laboratories International in the second quarter worth $110,000. American Century Companies Inc. increased its stake in Charles River Laboratories International by 4.6% in the 2nd quarter. American Century Companies Inc. now owns 6,556 shares of the medical research company's stock worth $1,354,000 after buying an additional 291 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Charles River Laboratories International by 12.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 7,906 shares of the medical research company's stock valued at $1,640,000 after buying an additional 850 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Charles River Laboratories International by 3.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 319,177 shares of the medical research company's stock valued at $65,936,000 after buying an additional 11,514 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Charles River Laboratories International by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 561,075 shares of the medical research company's stock valued at $115,912,000 after acquiring an additional 93,682 shares in the last quarter. 98.91% of the stock is owned by institutional investors.

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).