Charles River Laboratories International, Inc. (NYSE:CRL) Given Consensus Rating of “Reduce” by Brokerages

Shares of Charles River Laboratories International, Inc. (NYSE:CRL) have been assigned an average recommendation of “Reduce” from the fifteen brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $209.00.

A number of equities research analysts recently weighed in on the stock. Redburn Atlantic started coverage on shares of Charles River Laboratories International in a research note on Monday, October 14th. They set a “sell” rating and a $151.00 price target for the company. The Goldman Sachs Group reduced their price target on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. downgraded Charles River Laboratories International from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $270.00 to $205.00 in a report on Thursday, August 8th. Citigroup cut Charles River Laboratories International from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $215.00 to $175.00 in a report on Tuesday, October 1st. Finally, Robert W. Baird cut their price target on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th.

Hedge Funds Weigh In On Charles River Laboratories International

Large investors have recently bought and sold shares of the company. Tortoise Investment Management LLC boosted its holdings in 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 worth $27,000 after purchasing an additional 57 shares during the last quarter. Headlands Technologies LLC bought a new stake in Charles River Laboratories International during the 1st quarter worth about $41,000. Wolff Wiese Magana LLC acquired a new position in shares of Charles River Laboratories International during the 3rd quarter worth about $32,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Charles River Laboratories International by 219.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock valued at $58,000 after acquiring an additional 193 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Charles River Laboratories International during the third quarter worth about $79,000. Institutional investors and hedge funds own 98.91% of the company’s stock.

Charles River Laboratories International Stock Down 1.4 %

NYSE:CRL opened at $184.00 on Wednesday. The stock’s fifty day moving average price is $195.12 and its two-hundred day moving average price is $210.25. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 22.04, a P/E/G 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. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.41. The business 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%. On average, analysts anticipate that Charles River Laboratories International will post 10.01 EPS for the current year.

Charles River Laboratories International announced that its board has approved a stock 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 buy up to 9.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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).