Charles River Laboratories International (NYSE:CRL) Trading Down 3.4% - What's Next?

Shares of Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report) traded down 3.4% on Thursday . The company traded as low as $164.55 and last traded at $167.95. 127,730 shares were traded during mid-day trading, a decline of 82% from the average session volume of 712,822 shares. The stock had previously closed at $173.88.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CRL. JPMorgan Chase & Co. decreased their target price on Charles River Laboratories International from $175.00 to $165.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. William Blair cut shares of Charles River Laboratories International from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 22nd. Bank of America reduced 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 report on Friday, December 13th. Robert W. Baird lowered their price objective on shares of Charles River Laboratories International from $177.00 to $173.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. Finally, Barclays reduced their target price on Charles River Laboratories International from $205.00 to $166.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating and sixteen have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $189.77.

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Charles River Laboratories International Price Performance

The firm has a fifty day moving average price of $166.11 and a two-hundred day moving average price of $183.66. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $8.59 billion, a P/E ratio of 1,120.07, a P/E/G ratio of 4.54 and a beta of 1.45.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.16. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.63 million. Charles River Laboratories International had a net margin of 0.52% and a return on equity of 14.69%. During the same quarter last year, the firm earned $2.46 earnings per share. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts expect that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Charles River Laboratories International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRL. Versant Capital Management Inc grew its position in shares of Charles River Laboratories International by 1,071.4% during the 4th quarter. Versant Capital Management Inc now owns 164 shares of the medical research company's stock valued at $30,000 after acquiring an additional 150 shares during the period. Pinnacle Bancorp Inc. grew its holdings in Charles River Laboratories International by 52.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company's stock valued at $35,000 after purchasing an additional 65 shares during the period. Optiver Holding B.V. purchased a new stake in Charles River Laboratories International in the fourth quarter worth about $37,000. GeoWealth Management LLC raised its stake in shares of Charles River Laboratories International by 311.5% in the fourth quarter. GeoWealth Management LLC now owns 251 shares of the medical research company's stock worth $46,000 after buying an additional 190 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Charles River Laboratories International during the 4th quarter valued at approximately $48,000. 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).