Charles River Laboratories International (NYSE:CRL) Shares Gap Down - Here's What Happened

Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $190.14, but opened at $179.87. Charles River Laboratories International shares last traded at $179.71, with a volume of 207,216 shares traded.

Wall Street Analysts Forecast Growth

CRL has been the topic of several recent research reports. Redburn Atlantic began coverage on Charles River Laboratories International in a research report on Monday, October 14th. They set a "sell" rating and a $151.00 price target on the stock. TD Cowen boosted 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. Citigroup lowered shares of Charles River Laboratories International from a "neutral" rating to a "sell" rating and lowered their price target for the company from $215.00 to $175.00 in a report on Tuesday, October 1st. Bank of America dropped their price target on shares of 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, Robert W. Baird decreased their price objective on shares of Charles River Laboratories International from $191.00 to $190.00 and set a "neutral" rating for the company in a research report on Friday, September 20th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $214.00.

Charles River Laboratories International Stock Performance

The company has a 50-day moving average of $193.57 and a 200-day moving average of $199.32. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 5.00 and a beta of 1.38. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted 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. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $975.99 million. During the same period last year, the firm posted $2.72 EPS. The company's revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts forecast that Charles River Laboratories International, Inc. will post 10.18 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard F. Wallman sold 6,621 shares of the business's stock in a transaction 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. The trade was a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of Charles River Laboratories International by 1,071.4% during the fourth quarter. Versant Capital Management Inc now owns 164 shares of the medical research company's stock valued at $30,000 after buying an additional 150 shares during the last quarter. Wolff Wiese Magana LLC bought a new stake in Charles River Laboratories International during the 3rd quarter valued at $32,000. Pinnacle Bancorp Inc. boosted its position in Charles River Laboratories International by 52.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company's stock worth $35,000 after acquiring an additional 65 shares during the period. Assetmark Inc. grew its stake in shares of Charles River Laboratories International by 1,153.3% in the third quarter. Assetmark Inc. now owns 188 shares of the medical research company's stock worth $37,000 after purchasing an additional 173 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of Charles River Laboratories International during the fourth quarter valued at about $56,000. 98.91% of the stock is owned by institutional investors and hedge funds.

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).