Charles River Laboratories International (NYSE:CRL) Downgraded by Citigroup

Citigroup downgraded shares of Charles River Laboratories International (NYSE:CRL) from a neutral rating to a sell rating in a research note released on Tuesday morning, MarketBeat reports. The brokerage currently has $175.00 target price on the medical research company’s stock, down from their previous target price of $215.00.

Other equities research analysts also recently issued research reports about the company. Evercore ISI cut their price objective on Charles River Laboratories International from $265.00 to $225.00 and set an outperform rating for the company in a report on Thursday, August 8th. Robert W. Baird cut 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. TD Cowen cut their price objective on Charles River Laboratories International from $228.00 to $203.00 and set a hold rating for the company in a report on Monday, August 12th. Argus restated a hold rating on shares of Charles River Laboratories International in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. cut Charles River Laboratories International from an overweight rating to a neutral rating and dropped their price target for the company from $270.00 to $205.00 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $220.25.

Charles River Laboratories International Trading Down 1.7 %

NYSE:CRL opened at $189.64 on Tuesday. Charles River Laboratories International has a twelve month low of $161.65 and a twelve month 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. The business has a 50 day moving average price of $205.42 and a two-hundred day moving average price of $220.09. The company has a market cap of $9.77 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 4.09 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.39 by $0.41. The company 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%. As a group, analysts expect that Charles River Laboratories International will post 10.01 EPS for the current fiscal year.

Charles River Laboratories International declared that its board has authorized a stock repurchase program on Wednesday, August 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Czech National Bank increased its position in shares of Charles River Laboratories International by 7.1% in the third quarter. Czech National Bank now owns 10,517 shares of the medical research company’s stock worth $2,072,000 after purchasing an additional 701 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of Charles River Laboratories International by 4.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,842 shares of the medical research company’s stock worth $363,000 after purchasing an additional 79 shares during the period. Trust Co of the South bought a new position in shares of Charles River Laboratories International in the third quarter worth $205,000. American Trust increased its position in shares of Charles River Laboratories International by 5.9% in the second quarter. American Trust now owns 976 shares of the medical research company’s stock worth $202,000 after purchasing an additional 54 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of Charles River Laboratories International in the second quarter worth $5,422,000. 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).