Charles River Laboratories International’s (CRL) Buy Rating Reaffirmed at Jefferies Group LLC

Charles River Laboratories International, Inc. (NYSE:CRL)‘s stock had its “buy” rating reissued by stock analysts at Jefferies Group LLC in a note issued to investors on Friday, June 30th. They currently have a $121.00 price objective on the medical research company’s stock. Jefferies Group LLC’s price objective points to a potential upside of 24.06% from the company’s previous close. Jefferies Group also issued estimates for Charles River Laboratories International’s Q1 2018 earnings at $1.30 EPS, Q2 2018 earnings at $1.43 EPS, Q3 2018 earnings at $1.50 EPS, Q4 2018 earnings at $1.59 EPS and FY2019 earnings at $6.73 EPS.

CRL has been the topic of several other research reports. Credit Suisse Group reiterated a “neutral” rating and set a $95.00 price objective (up previously from $89.00) on shares of Charles River Laboratories International in a report on Tuesday, June 6th. BidaskClub upgraded shares of Charles River Laboratories International from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Citigroup Inc. reiterated a “neutral” rating and set a $104.00 price objective (up previously from $91.00) on shares of Charles River Laboratories International in a report on Wednesday, June 28th. Finally, Barclays PLC set a $90.00 price objective on shares of Charles River Laboratories International and gave the company a “hold” rating in a report on Saturday, May 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $97.06.

Charles River Laboratories International (NYSE:CRL) traded down 0.92% on Friday, reaching $97.53. The company had a trading volume of 445,634 shares. The company has a 50-day moving average of $99.16 and a 200 day moving average of $90.42. Charles River Laboratories International has a one year low of $67.20 and a one year high of $102.32. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 28.54 and a beta of 1.03.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings data on Wednesday, May 10th. The medical research company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.15. Charles River Laboratories International had a net margin of 9.28% and a return on equity of 27.46%. The firm had revenue of $445.80 million for the quarter, compared to analyst estimates of $437.04 million. During the same quarter in the prior year, the business earned $0.98 earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, equities research analysts predict that Charles River Laboratories International will post $5.10 EPS for the current year.

Charles River Laboratories International declared that its board has approved a stock buyback program on Wednesday, May 10th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the medical research company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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In other Charles River Laboratories International news, Director George Massaro sold 1,130 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $88.30, for a total value of $99,779.00. Following the completion of the transaction, the director now directly owns 15,831 shares of the company’s stock, valued at approximately $1,397,877.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Davide Molho sold 10,976 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $92.84, for a total transaction of $1,019,011.84. Following the completion of the transaction, the insider now directly owns 27,525 shares of the company’s stock, valued at $2,555,421. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,499 shares of company stock valued at $7,946,191. Insiders own 2.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Columbus Circle Investors boosted its stake in Charles River Laboratories International by 170.2% in the first quarter. Columbus Circle Investors now owns 75,724 shares of the medical research company’s stock valued at $6,811,000 after buying an additional 47,703 shares during the period. BlackRock Inc. boosted its stake in Charles River Laboratories International by 12,573.1% in the first quarter. BlackRock Inc. now owns 3,845,643 shares of the medical research company’s stock valued at $345,915,000 after buying an additional 3,815,298 shares during the period. Gotham Asset Management LLC boosted its stake in Charles River Laboratories International by 4,129.0% in the first quarter. Gotham Asset Management LLC now owns 116,298 shares of the medical research company’s stock valued at $10,461,000 after buying an additional 113,548 shares during the period. Hudson Bay Capital Management LP bought a new stake in Charles River Laboratories International during the fourth quarter valued at $15,995,000. Finally, Wsfs Capital Management LLC bought a new stake in Charles River Laboratories International during the fourth quarter valued at $205,000. Hedge funds and other institutional investors own 98.05% of the company’s stock.

About Charles River Laboratories International

Charles River Laboratories International, Inc is an early-stage contract research company. The Company is engaged in laboratory animal medicine and science (research model technologies) and develop a portfolio of discovery and safety assessment services, both good laboratory practice (GLP) and non-GLP, which supports its clients from target identification through non-clinical development.

Analyst Recommendations for Charles River Laboratories International (NYSE:CRL)

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