SunTrust Banks Upgrades Charles River Laboratories Intl. (CRL) to “Buy”

SunTrust Banks upgraded shares of Charles River Laboratories Intl. (NYSE:CRL) from a hold rating to a buy rating in a report issued on Wednesday, MarketBeat.com reports. The firm currently has $125.00 price objective on the medical research company’s stock, up from their previous price objective of $107.66. SunTrust Banks also issued estimates for Charles River Laboratories Intl.’s Q1 2018 earnings at $1.24 EPS, Q2 2018 earnings at $1.41 EPS, Q3 2018 earnings at $1.38 EPS, Q4 2018 earnings at $1.48 EPS, FY2018 earnings at $5.51 EPS and FY2019 earnings at $6.06 EPS.

A number of other analysts also recently issued reports on the stock. Argus initiated coverage on shares of Charles River Laboratories Intl. in a report on Wednesday, December 13th. They issued a buy rating and a $120.00 price objective for the company. Bank of America cut their price objective on shares of Charles River Laboratories Intl. from $117.00 to $115.00 and set a buy rating for the company in a report on Friday, November 10th. Zacks Investment Research raised shares of Charles River Laboratories Intl. from a hold rating to a buy rating and set a $129.00 price objective for the company in a report on Tuesday, October 24th. ValuEngine downgraded shares of Charles River Laboratories Intl. from a buy rating to a hold rating in a report on Friday, November 10th. Finally, Evercore ISI initiated coverage on shares of Charles River Laboratories Intl. in a report on Thursday, January 18th. They issued an in-line rating and a $117.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $114.85.

Shares of Charles River Laboratories Intl. (NYSE:CRL) traded down $1.89 on Wednesday, reaching $108.42. 162,182 shares of the company were exchanged, compared to its average volume of 455,607. Charles River Laboratories Intl. has a twelve month low of $86.25 and a twelve month high of $119.05. The firm has a market cap of $5,106.20, a price-to-earnings ratio of 43.43, a P/E/G ratio of 1.60 and a beta of 0.74. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.62 and a current ratio of 1.78.

Charles River Laboratories Intl. (NYSE:CRL) last announced its quarterly earnings results on Tuesday, February 13th. The medical research company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.14. Charles River Laboratories Intl. had a net margin of 6.64% and a return on equity of 26.14%. The business had revenue of $478.50 million for the quarter, compared to analyst estimates of $475.02 million. During the same quarter in the prior year, the business earned $1.21 EPS. Charles River Laboratories Intl.’s quarterly revenue was up 2.5% on a year-over-year basis. analysts anticipate that Charles River Laboratories Intl. will post 5.52 earnings per share for the current year.

In other Charles River Laboratories Intl. news, Director Online Communications Bdirect sold 131,000 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $0.29, for a total value of $37,990.00. Also, Chairman James C. Foster sold 4,967 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $109.44, for a total transaction of $543,588.48. Following the completion of the transaction, the chairman now owns 329,928 shares of the company’s stock, valued at $36,107,320.32. The disclosure for this sale can be found here. In the last three months, insiders sold 195,673 shares of company stock valued at $2,644,046. 2.20% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in Charles River Laboratories Intl. by 0.8% in the 4th quarter. BlackRock Inc. now owns 4,034,318 shares of the medical research company’s stock valued at $441,557,000 after acquiring an additional 31,676 shares during the period. Renaissance Technologies LLC increased its position in Charles River Laboratories Intl. by 4.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,398,700 shares of the medical research company’s stock valued at $153,088,000 after acquiring an additional 58,991 shares during the period. State Street Corp increased its position in Charles River Laboratories Intl. by 2.3% in the 2nd quarter. State Street Corp now owns 1,268,308 shares of the medical research company’s stock valued at $128,288,000 after acquiring an additional 28,365 shares during the period. Mackenzie Financial Corp increased its position in Charles River Laboratories Intl. by 15.3% in the 4th quarter. Mackenzie Financial Corp now owns 1,071,178 shares of the medical research company’s stock valued at $117,240,000 after acquiring an additional 142,382 shares during the period. Finally, TimesSquare Capital Management LLC increased its position in Charles River Laboratories Intl. by 181.1% in the 4th quarter. TimesSquare Capital Management LLC now owns 915,600 shares of the medical research company’s stock valued at $100,212,000 after acquiring an additional 589,900 shares during the period. Hedge funds and other institutional investors own 97.13% of the company’s stock.

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Charles River Laboratories Intl. 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 Intl. (NYSE:CRL)

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