Charles River Laboratories International (NYSE:CRL) Given New $190.00 Price Target at Robert W. Baird

Charles River Laboratories International (NYSE:CRL) had its target price lowered by analysts at Robert W. Baird from $191.00 to $190.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the medical research company’s stock. Robert W. Baird’s price target suggests a potential downside of 9.27% from the company’s previous close.

Several other analysts have also recently issued reports on CRL. StockNews.com raised shares of Charles River Laboratories International from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Baird R W lowered Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. downgraded Charles River Laboratories International from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $270.00 to $205.00 in a report on Thursday, August 8th. Argus reissued a “hold” rating on shares of Charles River Laboratories International in a research report on Friday, June 28th. Finally, Barclays reduced their price target 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. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $230.93.

Charles River Laboratories International Stock Up 1.6 %

Shares of NYSE:CRL opened at $209.42 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 3.89 and a beta of 1.36. The stock’s 50-day moving average price is $209.57 and its two-hundred day moving average price is $224.53. Charles River Laboratories International has a 12-month low of $161.65 and a 12-month high of $275.00.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.41. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. On average, research analysts forecast that Charles River Laboratories International will post 10.01 EPS for the current year.

Charles River Laboratories International declared that its Board of Directors has approved a share buyback program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy up to 9.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRL. Tortoise Investment Management LLC lifted its stake in shares of Charles River Laboratories International by 77.0% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after acquiring an additional 57 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Charles River Laboratories International in the first quarter worth about $41,000. Brown Brothers Harriman & Co. lifted its stake in shares of Charles River Laboratories International by 76.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical research company’s stock worth $52,000 after acquiring an additional 95 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Charles River Laboratories International by 219.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after acquiring an additional 193 shares in the last quarter. Finally, Concord Wealth Partners lifted its stake in shares of Charles River Laboratories International by 362.5% in the first quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock worth $70,000 after acquiring an additional 203 shares in the last quarter. Institutional investors and hedge funds 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).