Morgan Stanley Cuts Charles River Laboratories International (NYSE:CRL) Price Target to $184.00

Charles River Laboratories International (NYSE:CRL) had its target price reduced by stock analysts at Morgan Stanley from $220.00 to $184.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the medical research company’s stock. Morgan Stanley’s target price suggests a potential upside of 10.63% from the stock’s current price.

A number of other equities research analysts have also commented on CRL. The Goldman Sachs Group reduced their price target on Charles River Laboratories International from $220.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price target on Charles River Laboratories International from $215.00 to $175.00 and set a “neutral” rating on the stock in a research report on Monday. Bank of America reduced their price target on Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. StockNews.com lowered Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Redburn Atlantic started coverage on Charles River Laboratories International in a research report on Monday, October 14th. They issued a “sell” rating and a $151.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued 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 $200.79.

Charles River Laboratories International Price Performance

Shares of CRL opened at $166.32 on Wednesday. Charles River Laboratories International has a 12-month low of $159.65 and a 12-month high of $275.00. The business has a 50-day simple moving average of $181.32 and a two-hundred day simple moving average of $194.07. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61. The stock has a market cap of $8.51 billion, a PE ratio of 20.82, a PEG ratio of 6.25 and a beta of 1.37.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $975.99 million. During the same quarter in the prior year, the firm earned $2.72 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Analysts anticipate that Charles River Laboratories International will post 10.17 earnings per share for the current fiscal year.

Institutional Trading of Charles River Laboratories International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Charles River Laboratories International by 135,927.9% in the third quarter. Wellington Management Group LLP now owns 3,740,768 shares of the medical research company’s stock worth $736,819,000 after purchasing an additional 3,738,018 shares during the last quarter. State Street Corp increased its position in shares of Charles River Laboratories International by 2.0% during the third quarter. State Street Corp now owns 2,130,279 shares of the medical research company’s stock valued at $419,601,000 after acquiring an additional 41,421 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Charles River Laboratories International by 2.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,808,002 shares of the medical research company’s stock valued at $330,231,000 after acquiring an additional 47,221 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Charles River Laboratories International by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 552,975 shares of the medical research company’s stock valued at $102,079,000 after acquiring an additional 37,753 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Charles River Laboratories International by 21.6% during the third quarter. JPMorgan Chase & Co. now owns 482,745 shares of the medical research company’s stock valued at $95,086,000 after acquiring an additional 85,759 shares during the last quarter. 98.91% of the stock is owned by hedge funds and other 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).