Charles River Laboratories International (NYSE:CRL) PT Lowered to $190.00 at Robert W. Baird

Charles River Laboratories International (NYSE:CRL) had its target price reduced by Robert W. Baird from $191.00 to $190.00 in a research note published on Friday, Benzinga reports. Robert W. Baird currently has a neutral rating on the medical research company’s stock.

A number of other brokerages have also issued reports on CRL. The Goldman Sachs Group decreased 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 note on Thursday, August 8th. UBS Group decreased their target price on shares of Charles River Laboratories International from $290.00 to $240.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Baird R W lowered shares of Charles River Laboratories International from a strong-buy rating to a hold rating in a research report on Thursday, August 8th. StockNews.com upgraded shares of Charles River Laboratories International from a hold rating to a buy rating in a report on Tuesday, August 20th. Finally, Argus reaffirmed a hold rating on shares of Charles River Laboratories International in a research report on Friday, June 28th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $227.55.

Charles River Laboratories International Price Performance

NYSE:CRL opened at $205.79 on Friday. Charles River Laboratories International has a 12-month low of $161.65 and a 12-month high of $275.00. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 3.89 and a beta of 1.36. The company’s 50-day moving average is $209.34 and its two-hundred day moving average is $223.52. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.41. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Research analysts expect that Charles River Laboratories International will post 10.01 EPS for the current year.

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

Institutional Investors Weigh In On Charles River Laboratories International

Large investors have recently modified their holdings of the stock. Tortoise Investment Management LLC lifted its position in Charles River Laboratories International by 77.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after acquiring an additional 57 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Charles River Laboratories International during the first quarter worth $41,000. Brown Brothers Harriman & Co. boosted its stake in shares of Charles River Laboratories International by 76.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical research company’s stock valued at $52,000 after purchasing an additional 95 shares during the period. Sunbelt Securities Inc. grew its holdings in Charles River Laboratories International by 1,072.7% during the 1st quarter. Sunbelt Securities Inc. now owns 258 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 236 shares in the last quarter. Finally, Concord Wealth Partners increased its stake in Charles River Laboratories International by 362.5% during the 1st quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock worth $70,000 after buying an additional 203 shares during the period. Institutional investors and hedge funds 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).