Charles River Laboratories International (NYSE:CRL) Stock Price Down 4.3%

Charles River Laboratories International, Inc. (NYSE:CRL)’s share price was down 4.3% during mid-day trading on Wednesday . The company traded as low as $191.23 and last traded at $191.99. Approximately 135,416 shares were traded during trading, a decline of 77% from the average daily volume of 590,754 shares. The stock had previously closed at $200.62.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CRL shares. StockNews.com raised Charles River Laboratories International from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Barclays lowered their target price on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group decreased their price target on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Robert W. Baird decreased their price target on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, UBS Group cut their price target on Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $227.55.

Charles River Laboratories International Stock Performance

The company has a market cap of $9.98 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 4.09 and a beta of 1.36. 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 stock has a 50 day moving average price of $208.55 and a two-hundred day moving average price of $222.59.

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

Charles River Laboratories International announced that its board has initiated a stock buyback plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire up to 9.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Charles River Laboratories International

Hedge funds and other institutional investors have recently modified their holdings of the company. Tortoise Investment Management LLC grew its holdings in shares of Charles River Laboratories International by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 57 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Charles River Laboratories International in the 1st quarter valued at about $41,000. Brown Brothers Harriman & Co. grew its holdings in shares of Charles River Laboratories International by 76.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical research company’s stock valued at $52,000 after acquiring an additional 95 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Charles River Laboratories International by 1,072.7% in the 1st quarter. Sunbelt Securities Inc. now owns 258 shares of the medical research company’s stock valued at $70,000 after acquiring an additional 236 shares in the last quarter. Finally, Concord Wealth Partners grew its holdings in shares of Charles River Laboratories International by 362.5% in the 1st quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock valued at $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).