Evercore ISI Issues Positive Forecast for Charles River Laboratories International (NYSE:CRL) Stock Price

Charles River Laboratories International (NYSE:CRL - Free Report) had its price target raised by Evercore ISI from $190.00 to $225.00 in a report published on Thursday,Benzinga reports. They currently have an in-line rating on the medical research company's stock.

A number of other equities analysts have also recently issued reports on CRL. Barclays cut their price objective on shares of Charles River Laboratories International from $230.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 8th. CLSA initiated coverage on Charles River Laboratories International in a research note on Wednesday, October 23rd. They issued an "underperform" rating and a $167.00 target price for the company. Redburn Atlantic initiated coverage on Charles River Laboratories International in a research note on Monday, October 14th. They issued a "sell" rating and a $151.00 target price for the company. Citigroup downgraded Charles River Laboratories International from a "neutral" rating to a "sell" rating and reduced their target price for the company from $215.00 to $175.00 in a research note on Tuesday, October 1st. Finally, The Goldman Sachs Group reduced their target price on Charles River Laboratories International from $290.00 to $250.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Charles River Laboratories International has an average rating of "Hold" and a consensus price target of $214.93.

Charles River Laboratories International Trading Down 1.8 %

CRL stock traded down $3.91 during midday trading on Thursday, hitting $210.29. The stock had a trading volume of 845,105 shares, compared to its average volume of 615,909. The firm has a market cap of $10.86 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 6.25 and a beta of 1.38. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. Charles River Laboratories International has a 1-year low of $166.87 and a 1-year high of $275.00. The business has a fifty day moving average price of $193.34 and a two-hundred day moving average price of $208.60.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.16. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $975.99 million. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. Charles River Laboratories International's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.72 earnings per share. On average, sell-side analysts predict that Charles River Laboratories International will post 10.01 earnings per share for the current fiscal year.

Charles River Laboratories International announced that its board has approved a share repurchase program on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 9.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Charles River Laboratories International

Hedge funds have recently modified their holdings of the stock. Tortoise Investment Management LLC raised its holdings in shares of Charles River Laboratories International by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company's stock worth $27,000 after purchasing an additional 57 shares during the period. Wolff Wiese Magana LLC purchased a new position in Charles River Laboratories International in the 3rd quarter valued at approximately $32,000. Assetmark Inc. grew its stake in Charles River Laboratories International by 1,153.3% in the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company's stock valued at $37,000 after buying an additional 173 shares in the last quarter. Headlands Technologies LLC purchased a new position in Charles River Laboratories International in the 1st quarter valued at approximately $41,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Charles River Laboratories International by 219.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company's stock valued at $58,000 after buying an additional 193 shares in the last quarter. Institutional investors 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).