Zacks Investment Research Downgrades Charles River Laboratories International, Inc. (CRL) to Hold

Charles River Laboratories International, Inc. (NYSE:CRL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Charles River Laboratories is a leading provider of critical research tools and integrated support services that enable innovative and efficient drug discovery and development. Charles River is the global leader in providing the animal research models required in research and development for new drugs, devices and therapies and has been in this business for more than 50 years. “

CRL has been the topic of a number of other research reports. Credit Suisse Group reiterated a “neutral” rating and issued a $112.00 target price (up previously from $95.00) on shares of Charles River Laboratories International in a report on Monday, October 16th. Jefferies Group LLC reiterated a “buy” rating and issued a $120.00 target price on shares of Charles River Laboratories International in a report on Tuesday, September 12th. Royal Bank Of Canada started coverage on Charles River Laboratories International in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $110.00 target price on the stock. ValuEngine cut Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, BidaskClub upgraded Charles River Laboratories International from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $106.05.

Charles River Laboratories International (NYSE CRL) opened at $100.92 on Monday. Charles River Laboratories International has a fifty-two week low of $69.51 and a fifty-two week high of $119.05. The firm has a market capitalization of $4,827.56, a price-to-earnings ratio of 20.03, a P/E/G ratio of 1.63 and a beta of 0.94. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.88 and a quick ratio of 1.62.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Thursday, November 9th. The medical research company reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.08. Charles River Laboratories International had a return on equity of 26.58% and a net margin of 10.72%. The firm had revenue of $464.23 million for the quarter, compared to analysts’ expectations of $458.93 million. During the same quarter last year, the firm earned $1.18 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. equities analysts forecast that Charles River Laboratories International will post 5.13 EPS for the current fiscal year.

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In related news, insider Davide Molho sold 5,982 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $107.55, for a total value of $643,364.10. Following the transaction, the insider now owns 22,714 shares in the company, valued at $2,442,890.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bradley Nixon Scharfe sold 1,000,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $0.27, for a total value of $270,000.00. In the last 90 days, insiders have acquired 10,500 shares of company stock worth $2,885 and have sold 1,016,147 shares worth $1,991,154. Insiders own 2.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Charles River Laboratories International by 0.5% in the second quarter. Vanguard Group Inc. now owns 5,060,730 shares of the medical research company’s stock worth $511,893,000 after acquiring an additional 27,217 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Charles River Laboratories International by 4.6% in the second quarter. BlackRock Inc. now owns 4,022,882 shares of the medical research company’s stock worth $406,913,000 after acquiring an additional 177,239 shares in the last quarter. FMR LLC lifted its stake in shares of Charles River Laboratories International by 23.8% in the second quarter. FMR LLC now owns 3,079,179 shares of the medical research company’s stock worth $311,458,000 after acquiring an additional 591,066 shares in the last quarter. State Street Corp lifted its stake in shares of Charles River Laboratories International by 2.3% in the second quarter. State Street Corp now owns 1,268,308 shares of the medical research company’s stock worth $128,288,000 after acquiring an additional 28,365 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Charles River Laboratories International by 14.4% in the second quarter. Renaissance Technologies LLC now owns 1,219,883 shares of the medical research company’s stock worth $123,391,000 after acquiring an additional 153,374 shares in the last quarter. Institutional investors and hedge funds own 97.46% of the company’s stock.

About Charles River Laboratories International

Charles River Laboratories International, Inc is an early-stage contract research company. The Company is engaged in laboratory animal medicine and science (research model technologies) and develop a portfolio of discovery and safety assessment services, both good laboratory practice (GLP) and non-GLP, which supports its clients from target identification through non-clinical development.

Analyst Recommendations for Charles River Laboratories International (NYSE:CRL)

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