Charles River Laboratories International (NYSE:CRL) Earns Sell Rating from Analysts at Redburn Atlantic

Redburn Atlantic assumed coverage on shares of Charles River Laboratories International (NYSE:CRL) in a research note released on Monday, MarketBeat.com reports. The brokerage issued a sell rating and a $151.00 price target on the medical research company’s stock.

A number of other equities research analysts have also commented on the company. Evercore ISI lowered Charles River Laboratories International from an outperform rating to an inline rating and reduced their price target for the company from $225.00 to $190.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. downgraded Charles River Laboratories International from an overweight rating to a neutral rating and lowered their price objective for the stock from $270.00 to $205.00 in a research note on Thursday, August 8th. Robert W. Baird reduced their price objective on Charles River Laboratories International from $191.00 to $190.00 and set a neutral rating for the company in a report on Friday, September 20th. Baird R W lowered Charles River Laboratories International from a strong-buy rating to a hold rating in a report on Thursday, August 8th. Finally, Citigroup downgraded Charles River Laboratories International from a neutral rating to a sell rating and lowered their price target for the company from $215.00 to $175.00 in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $212.23.

Charles River Laboratories International Stock Up 0.1 %

NYSE:CRL opened at $193.14 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58. The stock has a 50-day simple moving average of $198.14 and a 200 day simple moving average of $215.36. The company has a market cap of $9.95 billion, a PE ratio of 22.72, a PEG ratio of 5.11 and a beta of 1.36. Charles River Laboratories International has a 52-week low of $161.65 and a 52-week high of $275.00.

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 the consensus estimate of $2.39 by $0.41. The business 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%. On average, sell-side analysts expect 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 plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Charles River Laboratories International

Hedge funds and other institutional investors have recently modified their holdings of the company. Tortoise Investment Management LLC grew its position in Charles River Laboratories International by 77.0% during 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 Charles River Laboratories International during the first quarter worth about $41,000. Sunbelt Securities Inc. raised its position in 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 acquiring an additional 236 shares during the last quarter. Concord Wealth Partners grew 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 in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Charles River Laboratories International by 219.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after buying an additional 193 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.

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).