Charles River Laboratories International (NYSE:CRL) Given New $184.00 Price Target at Morgan Stanley

Charles River Laboratories International (NYSE:CRL - Get Free Report) had its target price dropped by analysts at Morgan Stanley from $220.00 to $184.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the medical research company's stock. Morgan Stanley's price objective points to a potential upside of 12.44% from the company's current price.

A number of other analysts have also recently commented on the company. CLSA cut 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 report on Monday, November 18th. TD Cowen boosted their price objective on Charles River Laboratories International from $203.00 to $227.00 and gave the company a "hold" rating in a research note on Monday, November 11th. Bank of America decreased their price objective on Charles River Laboratories International from $220.00 to $210.00 and set a "neutral" rating for the company in a report on Friday, December 13th. The Goldman Sachs Group decreased their price target on shares of Charles River Laboratories International from $220.00 to $190.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Charles River Laboratories International from $215.00 to $175.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Charles River Laboratories International currently has an average rating of "Hold" and a consensus price target of $200.79.

Charles River Laboratories International Stock Down 1.6 %

Shares of CRL traded down $2.62 during mid-day trading on Wednesday, reaching $163.65. The company's stock had a trading volume of 564,421 shares, compared to its average volume of 1,002,698. The company's 50 day moving average is $180.61 and its 200 day moving average is $193.62. The stock has a market cap of $8.37 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 6.47 and a beta of 1.37. Charles River Laboratories International has a 12-month low of $159.65 and a 12-month high of $275.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share 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 analysts' expectations of $975.99 million. During the same quarter last year, the company earned $2.72 earnings per share. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts anticipate that Charles River Laboratories International will post 10.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Charles River Laboratories International

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in shares of 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 purchasing an additional 3,738,018 shares during the period. State Street Corp grew its holdings in shares of Charles River Laboratories International by 2.0% in the 3rd quarter. State Street Corp now owns 2,130,279 shares of the medical research company's stock worth $419,601,000 after acquiring an additional 41,421 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Charles River Laboratories International by 2.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,808,002 shares of the medical research company's stock valued at $330,231,000 after purchasing an additional 47,221 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Charles River Laboratories International by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 552,975 shares of the medical research company's stock worth $102,079,000 after purchasing an additional 37,753 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Charles River Laboratories International by 21.6% in the third quarter. JPMorgan Chase & Co. now owns 482,745 shares of the medical research company's stock valued at $95,086,000 after purchasing an additional 85,759 shares during the last quarter. 98.91% of the stock is currently 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).