StockNews.com Upgrades Charles River Laboratories International (NYSE:CRL) to “Buy”

Charles River Laboratories International (NYSE:CRL) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

A number of other equities analysts have also recently weighed in on CRL. Baird R W cut Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. UBS Group lowered their target price on Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. 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. Redburn Atlantic started coverage on Charles River Laboratories International in a research note on Monday. They set a “sell” rating and a $151.00 target price on the stock. Finally, TD Cowen lowered their target price on Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $212.23.

Charles River Laboratories International Trading Up 1.3 %

Shares of CRL opened at $197.69 on Wednesday. The business’s 50-day moving average price is $197.26 and its 200 day moving average price is $214.56. The stock has a market capitalization of $10.18 billion, a P/E ratio of 23.26, a P/E/G ratio of 5.11 and a beta of 1.36. Charles River Laboratories International has a 1-year low of $161.65 and a 1-year high of $275.00. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65.

Charles River Laboratories International (NYSE:CRL) last issued 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 for 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%. Analysts expect that Charles River Laboratories International will post 10.01 earnings per share for the current year.

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

Institutional Investors Weigh In On Charles River Laboratories International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tortoise Investment Management LLC lifted its holdings in 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 worth $27,000 after purchasing an additional 57 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Charles River Laboratories International during the first quarter worth approximately $41,000. Wolff Wiese Magana LLC acquired a new position in shares of Charles River Laboratories International during the third quarter worth approximately $32,000. Sunbelt Securities Inc. lifted its holdings in shares of Charles River Laboratories International by 1,072.7% during the first quarter. Sunbelt Securities Inc. now owns 258 shares of the medical research company’s stock worth $70,000 after buying an additional 236 shares during the last quarter. Finally, Concord Wealth Partners lifted its holdings in shares of Charles River Laboratories International by 362.5% during the first quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock worth $70,000 after buying an additional 203 shares during the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.

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).