SunTrust Banks Boosts Charles River Laboratories Intl. (NYSE:CRL) Price Target to $162.00

Charles River Laboratories Intl. (NYSE:CRL) had its price target raised by SunTrust Banks from $156.00 to $162.00 in a research note released on Monday, The Fly reports. They currently have a buy rating on the medical research company’s stock. SunTrust Banks also issued estimates for Charles River Laboratories Intl.’s FY2021 earnings at $8.70 EPS.

Several other brokerages have also issued reports on CRL. ValuEngine lowered shares of Charles River Laboratories Intl. from a buy rating to a hold rating in a report on Thursday, August 1st. Credit Suisse Group set a $138.00 price target on shares of Charles River Laboratories Intl. and gave the company a hold rating in a report on Friday, September 13th. Zacks Investment Research downgraded shares of Charles River Laboratories Intl. from a buy rating to a hold rating in a research report on Monday, September 9th. Svb Leerink began coverage on shares of Charles River Laboratories Intl. in a research report on Monday, June 10th. They set an outperform rating and a $155.00 target price on the stock. Finally, Leerink Swann began coverage on shares of Charles River Laboratories Intl. in a research report on Monday, June 10th. They set an outperform rating on the stock. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $149.54.

Shares of Charles River Laboratories Intl. stock opened at $135.82 on Monday. The firm has a market capitalization of $6.45 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.09. The company has a current ratio of 1.59, a quick ratio of 1.38 and a debt-to-equity ratio of 1.47. The firm’s 50 day moving average is $131.21 and its 200 day moving average is $135.98. Charles River Laboratories Intl. has a 1 year low of $103.00 and a 1 year high of $149.07.

Charles River Laboratories Intl. (NYSE:CRL) last announced its quarterly earnings results on Wednesday, July 31st. The medical research company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.08. The company had revenue of $657.60 million for the quarter, compared to analyst estimates of $662.61 million. Charles River Laboratories Intl. had a net margin of 8.94% and a return on equity of 22.01%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.62 EPS. As a group, research analysts anticipate that Charles River Laboratories Intl. will post 6.52 earnings per share for the current year.

In other news, insider David Ross Smith sold 1,249 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $130.36, for a total value of $162,819.64. Following the transaction, the insider now owns 19,327 shares in the company, valued at approximately $2,519,467.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Atria Investments LLC lifted its position in shares of Charles River Laboratories Intl. by 36.3% in the 2nd quarter. Atria Investments LLC now owns 4,416 shares of the medical research company’s stock worth $564,000 after purchasing an additional 1,176 shares during the period. BlackRock Inc. lifted its position in shares of Charles River Laboratories Intl. by 1.6% in the 2nd quarter. BlackRock Inc. now owns 4,660,628 shares of the medical research company’s stock worth $661,344,000 after purchasing an additional 72,827 shares during the period. Vestmark Advisory Solutions Inc. lifted its position in shares of Charles River Laboratories Intl. by 6.8% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 4,985 shares of the medical research company’s stock worth $707,000 after purchasing an additional 319 shares during the period. Chartwell Investment Partners LLC acquired a new position in shares of Charles River Laboratories Intl. in the 2nd quarter worth approximately $1,687,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Charles River Laboratories Intl. by 32.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 457,776 shares of the medical research company’s stock worth $64,958,000 after purchasing an additional 112,229 shares during the period. Hedge funds and other institutional investors own 94.31% of the company’s stock.

About Charles River Laboratories Intl.

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates in three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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