Charles River Laboratories International (NYSE:CRL) Downgraded by Citigroup to “Sell”

Citigroup downgraded shares of Charles River Laboratories International (NYSE:CRL) from a neutral rating to a sell rating in a report released on Tuesday, Marketbeat.com reports. Citigroup currently has $175.00 price objective on the medical research company’s stock, down from their prior price objective of $215.00.

Other analysts have also issued reports about the company. StockNews.com raised Charles River Laboratories International from a hold rating to a buy rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lowered Charles River Laboratories International from an overweight rating to a neutral rating and cut their price target for the company from $270.00 to $205.00 in a research note on Thursday, August 8th. Robert W. Baird cut their price target on Charles River Laboratories International from $191.00 to $190.00 and set a neutral rating on the stock in a research note on Friday, September 20th. Argus reaffirmed a hold rating on shares of Charles River Laboratories International in a research note on Friday, June 28th. Finally, Barclays cut their price objective 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Charles River Laboratories International has an average rating of Hold and an average target price of $220.73.

Charles River Laboratories International Stock Performance

NYSE:CRL opened at $194.09 on Tuesday. The stock’s 50-day simple moving average is $206.01 and its 200 day simple moving average is $220.28. The firm has a market capitalization of $10.00 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 4.09 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.65. Charles River Laboratories International has a twelve month low of $161.65 and a twelve month high of $275.00.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.03 billion. On average, analysts anticipate that Charles River Laboratories International will post 10.01 EPS for the current fiscal year.

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

Institutional Investors Weigh In On Charles River Laboratories International

A number of hedge funds have recently added to or reduced their stakes in the business. Czech National Bank increased its holdings in Charles River Laboratories International by 0.5% in the first quarter. Czech National Bank now owns 9,025 shares of the medical research company’s stock worth $2,445,000 after purchasing an additional 41 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Charles River Laboratories International by 1.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 4,424 shares of the medical research company’s stock valued at $914,000 after acquiring an additional 45 shares in the last quarter. American Trust increased its holdings in shares of Charles River Laboratories International by 5.9% during the second quarter. American Trust now owns 976 shares of the medical research company’s stock valued at $202,000 after acquiring an additional 54 shares in the last quarter. Tortoise Investment Management LLC increased its holdings in shares of Charles River Laboratories International by 77.0% during the second 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. Finally, Dumont & Blake Investment Advisors LLC increased its holdings in shares of Charles River Laboratories International by 1.4% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 4,415 shares of the medical research company’s stock valued at $1,196,000 after acquiring an additional 62 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).