Bank of America Issues Pessimistic Forecast for Charles River Laboratories International (NYSE:CRL) Stock Price

Charles River Laboratories International (NYSE:CRL) had its target price decreased by analysts at Bank of America from $220.00 to $210.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the medical research company’s stock. Bank of America‘s target price indicates a potential upside of 10.26% from the company’s current price.

Several other research analysts have also issued reports on CRL. StockNews.com lowered shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Redburn Atlantic assumed coverage on shares of Charles River Laboratories International in a research note on Monday, October 14th. They issued a “sell” rating and a $151.00 price objective on the stock. UBS Group upped their target price on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. TD Cowen raised their price target on Charles River Laboratories International from $203.00 to $227.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, CLSA downgraded Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price objective for the company. in a report on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $214.00.

Charles River Laboratories International Stock Performance

Shares of Charles River Laboratories International stock opened at $190.46 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14. The firm has a 50 day simple moving average of $194.35 and a 200 day simple moving average of $203.02. Charles River Laboratories International has a fifty-two week low of $176.48 and a fifty-two week high of $275.00. The firm has a market cap of $9.74 billion, a P/E ratio of 23.84, a P/E/G ratio of 5.00 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $975.99 million. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.72 earnings per share. Sell-side analysts predict that Charles River Laboratories International will post 10.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the completion of the transaction, the director now owns 12,386 shares in the company, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Charles River Laboratories International

A number of institutional investors have recently modified their holdings of CRL. Wealth Enhancement Advisory Services LLC boosted its position in Charles River Laboratories International by 33.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,114 shares of the medical research company’s stock worth $1,263,000 after acquiring an additional 1,535 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Charles River Laboratories International by 0.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,706 shares of the medical research company’s stock worth $2,005,000 after purchasing an additional 75 shares during the last quarter. Fiduciary Financial Group LLC bought a new position in Charles River Laboratories International in the second quarter valued at $258,000. Blue Trust Inc. increased its stake in Charles River Laboratories International by 19.1% in the 2nd quarter. Blue Trust Inc. now owns 1,459 shares of the medical research company’s stock valued at $301,000 after buying an additional 234 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its position in Charles River Laboratories International by 2.8% during the 2nd quarter. Boston Trust Walden Corp now owns 200,314 shares of the medical research company’s stock worth $41,381,000 after buying an additional 5,375 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors.

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).