Charles River Laboratories International (NYSE:CRL) Earns Underperform Rating from Analysts at CLSA

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

A number of other research analysts also recently commented on CRL. Baird R W downgraded Charles River Laboratories International from a “strong-buy” rating to a “hold” rating 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 for the company in a research note on Thursday, August 8th. Bank of America downgraded Charles River Laboratories International from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $215.00 in a research note on Wednesday, October 2nd. Robert W. Baird lowered their target price 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, Redburn Atlantic started coverage on Charles River Laboratories International in a research note on Monday, October 14th. They set a “sell” rating and a $151.00 target price for the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $209.00.

Charles River Laboratories International Stock Down 0.3 %

CRL stock opened at $182.12 on Wednesday. The company has a market cap of $9.38 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 5.11 and a beta of 1.36. The business has a 50-day simple moving average of $195.84 and a 200 day simple moving average of $211.33. Charles River Laboratories International has a 52 week low of $161.65 and a 52 week high of $275.00. 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 (NYSE:CRL) last posted 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. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. Sell-side analysts anticipate that Charles River Laboratories International will post 10.01 EPS for the current fiscal year.

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

Institutional Trading of Charles River Laboratories International

Several institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its holdings in Charles River Laboratories International by 1.0% in 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 during the last quarter. American Trust boosted its holdings in Charles River Laboratories International by 5.9% in 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 during the last quarter. Tortoise Investment Management LLC boosted its holdings 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 valued at $27,000 after acquiring an additional 57 shares during the last quarter. OLD National Bancorp IN boosted its holdings in Charles River Laboratories International by 3.1% in the third quarter. OLD National Bancorp IN now owns 1,988 shares of the medical research company’s stock valued at $392,000 after acquiring an additional 59 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC boosted its holdings in Charles River Laboratories International by 1.4% in 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 during 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).