Charles River Laboratories International (NYSE:CRL) Price Target Cut to $210.00 by Analysts at Bank of America

Charles River Laboratories International (NYSE:CRL) had its target price trimmed by Bank of America from $220.00 to $210.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the medical research company’s stock.

A number of other brokerages have also recently commented on CRL. Robert W. Baird dropped their price target on 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. UBS Group upped their price objective on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Evercore ISI lifted their target price on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. CLSA cut shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price target on the stock. in a research note on Monday, November 18th. Finally, TD Cowen raised their price objective on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $214.00.

Charles River Laboratories International Price Performance

CRL opened at $190.46 on Friday. The firm has a market cap of $9.74 billion, a P/E ratio of 23.84, a PEG ratio of 5.00 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.14 and a current ratio of 1.48. Charles River Laboratories International has a fifty-two week low of $176.48 and a fifty-two week high of $275.00. The firm has a 50-day moving average of $194.35 and a 200 day moving average of $202.96.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.16. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. Charles River Laboratories International’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.72 EPS. On average, research analysts expect that Charles River Laboratories International will post 10.18 EPS for the current year.

Insider Activity

In other news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the sale, the director now owns 12,386 shares in the company, valued at approximately $2,676,862.32. This trade represents a 34.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRL. Tortoise Investment Management LLC boosted its holdings in shares of 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 in the last quarter. Wolff Wiese Magana LLC bought a new stake in Charles River Laboratories International in the 3rd quarter worth approximately $32,000. Assetmark Inc. boosted its stake in Charles River Laboratories International by 1,153.3% in the third quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock worth $37,000 after buying an additional 173 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in 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 valued at $58,000 after acquiring an additional 193 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Charles River Laboratories International during the third quarter worth approximately $59,000. Institutional investors own 98.91% of the company’s stock.

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).