Royal Bank Of Canada Initiates Coverage on Charles River Laboratories International, Inc. (CRL)

Analysts at Royal Bank Of Canada initiated coverage on shares of Charles River Laboratories International, Inc. (NYSE:CRL) in a report issued on Tuesday. The brokerage set a “sector perform” rating and a $110.00 price target on the medical research company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 2.53% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded Charles River Laboratories International from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research report on Wednesday, July 12th. Jefferies Group LLC reiterated a “buy” rating and issued a $121.00 price target on shares of Charles River Laboratories International in a research report on Friday, June 30th. BidaskClub lowered Charles River Laboratories International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Robert W. Baird reiterated a “buy” rating and issued a $114.00 price target on shares of Charles River Laboratories International in a research report on Friday, September 1st. Finally, Barclays PLC reiterated a “hold” rating and issued a $102.00 price target on shares of Charles River Laboratories International in a research report on Wednesday, July 19th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Charles River Laboratories International presently has a consensus rating of “Buy” and a consensus target price of $99.59.

Shares of Charles River Laboratories International (NYSE:CRL) opened at 107.29 on Tuesday. The stock’s 50 day moving average price is $103.29 and its 200-day moving average price is $95.54. Charles River Laboratories International has a 52-week low of $67.20 and a 52-week high of $109.59. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 28.27 and a beta of 0.99.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, August 9th. The medical research company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.07. Charles River Laboratories International had a return on equity of 27.02% and a net margin of 10.13%. The firm had revenue of $469.13 million for the quarter, compared to analyst estimates of $458.25 million. During the same quarter in the previous year, the company posted $1.20 EPS. The business’s revenue was up 8.1% on a year-over-year basis. On average, analysts forecast that Charles River Laboratories International will post $5.10 EPS for the current year.

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In related news, Chairman James C. Foster sold 43,154 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $4,315,400.00. Following the transaction, the chairman now directly owns 361,178 shares of the company’s stock, valued at approximately $36,117,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Davide Molho sold 10,948 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total value of $1,094,800.00. Following the transaction, the insider now directly owns 27,497 shares in the company, valued at $2,749,700. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,982 shares of company stock worth $7,951,868. 2.20% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Charles River Laboratories International by 12,573.1% during the 1st quarter. BlackRock Inc. now owns 3,845,643 shares of the medical research company’s stock worth $345,915,000 after buying an additional 3,815,298 shares during the period. Prudential Financial Inc. raised its stake in Charles River Laboratories International by 19.0% during the 2nd quarter. Prudential Financial Inc. now owns 425,860 shares of the medical research company’s stock worth $43,076,000 after buying an additional 68,058 shares during the period. Gotham Asset Management LLC raised its stake in Charles River Laboratories International by 4,129.0% during the 1st quarter. Gotham Asset Management LLC now owns 116,298 shares of the medical research company’s stock worth $10,461,000 after buying an additional 113,548 shares during the period. Alps Advisors Inc. raised its stake in Charles River Laboratories International by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 5,350 shares of the medical research company’s stock worth $541,000 after buying an additional 14 shares during the period. Finally, Van Berkom & Associates Inc. raised its stake in Charles River Laboratories International by 0.4% during the 2nd quarter. Van Berkom & Associates Inc. now owns 767,913 shares of the medical research company’s stock worth $77,674,000 after buying an additional 2,970 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Charles River Laboratories International Company Profile

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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