Charles River Laboratories International’s (CRL) Hold Rating Reiterated at Argus

Charles River Laboratories International (NYSE:CRL)‘s stock had its “hold” rating reaffirmed by analysts at Argus in a research note issued to investors on Friday, Benzinga reports.

Other analysts have also issued reports about the stock. TD Cowen cut their price target on shares of Charles River Laboratories International from $260.00 to $228.00 and set a “hold” rating on the stock in a research note on Monday, May 13th. TheStreet upgraded shares of Charles River Laboratories International from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Mizuho assumed coverage on shares of Charles River Laboratories International in a research report on Friday, June 7th. They issued a “neutral” rating and a $235.00 price target for the company. Robert W. Baird reduced their price objective on Charles River Laboratories International from $282.00 to $270.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Finally, The Goldman Sachs Group initiated coverage on Charles River Laboratories International in a research note on Thursday, June 6th. They set a “buy” rating and a $290.00 target price for the company. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.38.

Charles River Laboratories International Price Performance

Shares of CRL opened at $207.37 on Friday. The firm has a 50-day simple moving average of $220.57 and a two-hundred day simple moving average of $232.48. The stock has a market cap of $10.68 billion, a PE ratio of 24.40, a P/E/G ratio of 1.96 and a beta of 1.40. Charles River Laboratories International has a 1-year low of $161.65 and a 1-year high of $275.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.75 and a quick ratio of 1.37.

Charles River Laboratories International (NYSE:CRL) last posted its earnings results on Thursday, May 9th. The medical research company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.22. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $997.24 million. Charles River Laboratories International had a net margin of 10.81% and a return on equity of 15.16%. As a group, analysts forecast that Charles River Laboratories International will post 11 EPS for the current year.

Insider Activity

In related news, EVP Joseph W. Laplume sold 1,304 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $226.97, for a total value of $295,968.88. Following the transaction, the executive vice president now owns 23,276 shares in the company, valued at approximately $5,282,953.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Charles River Laboratories International

A number of hedge funds and other institutional investors have recently bought and sold shares of CRL. APG Asset Management US Inc. purchased a new stake in Charles River Laboratories International during the fourth quarter worth $2,321,000. Norges Bank acquired a new stake in Charles River Laboratories International in the 4th quarter valued at about $101,319,000. abrdn plc increased its holdings in Charles River Laboratories International by 872.0% during the 4th quarter. abrdn plc now owns 121,807 shares of the medical research company’s stock valued at $28,795,000 after acquiring an additional 109,275 shares in the last quarter. Regency Capital Management Inc. DE acquired a new position in Charles River Laboratories International during the fourth quarter worth about $3,703,000. Finally, Principal Financial Group Inc. grew its position in shares of Charles River Laboratories International by 30.8% in the fourth quarter. Principal Financial Group Inc. now owns 152,537 shares of the medical research company’s stock valued at $36,060,000 after purchasing an additional 35,921 shares during the last quarter. Institutional investors and hedge funds own 98.91% of the company’s stock.

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).