TD Cowen Boosts Charles River Laboratories International (NYSE:CRL) Price Target to $227.00

Charles River Laboratories International (NYSE:CRL) had its price target boosted by research analysts at TD Cowen from $203.00 to $227.00 in a report released on Monday,Benzinga reports. The firm presently has a “hold” rating on the medical research company’s stock. TD Cowen’s price target indicates a potential upside of 5.17% from the stock’s current price.

A number of other brokerages have also issued reports on CRL. UBS Group raised their price target on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Robert W. Baird reduced their price target on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Citigroup cut Charles River Laboratories International from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $215.00 to $175.00 in a report on Tuesday, October 1st. Baird R W lowered Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. downgraded Charles River Laboratories International from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $270.00 to $205.00 in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Charles River Laboratories International currently has a consensus rating of “Hold” and a consensus target price of $217.54.

Charles River Laboratories International Price Performance

CRL opened at $215.84 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.21 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $11.04 billion, a P/E ratio of 27.01, a PEG ratio of 5.80 and a beta of 1.38. The stock has a 50-day moving average price of $194.85 and a 200-day moving average price of $207.91. Charles River Laboratories International has a 12-month low of $168.24 and a 12-month high of $275.00.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.16. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.72 earnings per share. Equities analysts predict that Charles River Laboratories International will post 10.2 earnings per share for the current fiscal year.

Charles River Laboratories International announced that its board has authorized a stock buyback plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to buy up to 9.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Charles River Laboratories International

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Charles River Laboratories International

Several institutional investors have recently bought and sold shares of the company. Daiwa Securities Group Inc. raised its position in shares of Charles River Laboratories International by 12.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 6,355 shares of the medical research company’s stock valued at $1,252,000 after purchasing an additional 710 shares during the last quarter. Cerity Partners LLC increased its stake in Charles River Laboratories International by 65.9% during the 3rd quarter. Cerity Partners LLC now owns 4,891 shares of the medical research company’s stock valued at $963,000 after purchasing an additional 1,943 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Charles River Laboratories International by 10.7% in the third quarter. Citigroup Inc. now owns 236,141 shares of the medical research company’s stock worth $46,513,000 after buying an additional 22,788 shares during the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Charles River Laboratories International during the third quarter worth $211,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Charles River Laboratories International by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 515,222 shares of the medical research company’s stock valued at $101,483,000 after buying an additional 32,311 shares during the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.

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).