CLSA Begins Coverage on Charles River Laboratories International (NYSE:CRL)

CLSA started coverage on shares of Charles River Laboratories International (NYSE:CRL) in a research note released on Wednesday, MarketBeat Ratings reports. The brokerage issued an underperform rating and a $167.00 target price on the medical research company’s stock.

CRL has been the topic of several other research reports. Baird R W downgraded shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Argus reissued a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th. JPMorgan Chase & Co. lowered Charles River Laboratories International from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $270.00 to $205.00 in a research note on Thursday, August 8th. Evercore ISI lowered Charles River Laboratories International from an “outperform” rating to an “inline” rating and cut their target price for the company from $225.00 to $190.00 in a research report on Monday, October 7th. Finally, TD Cowen decreased their price target on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $209.00.

Charles River Laboratories International Trading Down 0.3 %

Shares of CRL opened at $182.12 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. Charles River Laboratories International has a 12 month low of $161.65 and a 12 month high of $275.00. The stock has a market cap of $9.38 billion, a PE ratio of 21.43, a P/E/G ratio of 5.11 and a beta of 1.36. The stock’s 50-day moving average is $195.84 and its two-hundred day moving average is $211.65.

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 for the quarter, topping analysts’ consensus estimates of $2.39 by $0.41. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. Equities analysts forecast that Charles River Laboratories International will post 10.01 earnings per share for the current fiscal year.

Charles River Laboratories International declared that its board has approved a stock buyback plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 9.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Charles River Laboratories International

Hedge funds have recently made changes to their positions in the stock. Tortoise Investment Management LLC increased its position in 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 buying an additional 57 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Charles River Laboratories International in the 1st quarter worth about $41,000. Wolff Wiese Magana LLC bought a new stake in Charles River Laboratories International in the 3rd quarter valued at about $32,000. Sunbelt Securities Inc. boosted its stake in Charles River Laboratories International by 1,072.7% during the 1st quarter. Sunbelt Securities Inc. now owns 258 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 236 shares during the period. Finally, Concord Wealth Partners grew its position in 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 worth $70,000 after purchasing an additional 203 shares during the last quarter. Institutional investors 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).