Barclays Raises Charles River Laboratories Intl. (CRL) Price Target to $120.00

Charles River Laboratories Intl. (NYSE:CRL) had its price objective lifted by Barclays from $110.00 to $120.00 in a report published on Thursday morning. The brokerage currently has an equal weight rating on the medical research company’s stock.

CRL has been the topic of several other research reports. KeyCorp raised shares of Charles River Laboratories Intl. from a sector weight rating to an overweight rating and increased their price target for the stock from $115.85 to $130.00 in a research report on Friday, June 15th. Zacks Investment Research raised shares of Charles River Laboratories Intl. from a hold rating to a buy rating and set a $117.00 price target on the stock in a research report on Friday, May 11th. Jefferies Financial Group reaffirmed a buy rating and issued a $140.00 target price on shares of Charles River Laboratories Intl. in a report on Friday, July 20th. ValuEngine raised shares of Charles River Laboratories Intl. from a hold rating to a buy rating in a report on Wednesday, July 18th. Finally, Bank of America raised their target price on shares of Charles River Laboratories Intl. from $120.00 to $125.00 and gave the company a buy rating in a report on Monday, July 16th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $122.00.

Shares of CRL traded down $1.17 during mid-day trading on Thursday, hitting $120.59. 517,831 shares of the company’s stock were exchanged, compared to its average volume of 404,918. The stock has a market capitalization of $5.85 billion, a PE ratio of 21.36, a P/E/G ratio of 1.53 and a beta of 0.66. Charles River Laboratories Intl. has a fifty-two week low of $96.20 and a fifty-two week high of $130.66. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.78 and a current ratio of 1.72.

Charles River Laboratories Intl. (NYSE:CRL) last issued its quarterly earnings results on Wednesday, August 8th. The medical research company reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.16. The business had revenue of $585.30 million for the quarter, compared to analysts’ expectations of $570.65 million. Charles River Laboratories Intl. had a net margin of 6.38% and a return on equity of 25.26%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. sell-side analysts predict that Charles River Laboratories Intl. will post 5.9 earnings per share for the current year.

In related news, CEO James C. Foster sold 5,005 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $110.80, for a total value of $554,554.00. Following the sale, the chief executive officer now owns 296,676 shares of the company’s stock, valued at $32,871,700.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director George Massaro sold 1,218 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $107.19, for a total transaction of $130,557.42. Following the completion of the sale, the director now directly owns 15,055 shares in the company, valued at approximately $1,613,745.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,227 shares of company stock worth $3,981,859. 2.10% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Signaturefd LLC purchased a new position in Charles River Laboratories Intl. in the first quarter valued at approximately $105,000. NumerixS Investment Technologies Inc purchased a new position in Charles River Laboratories Intl. in the second quarter valued at approximately $122,000. Adviser Investments LLC purchased a new position in Charles River Laboratories Intl. in the first quarter valued at approximately $152,000. Wsfs Capital Management LLC purchased a new position in Charles River Laboratories Intl. in the second quarter valued at approximately $203,000. Finally, CIBC Private Wealth Group LLC purchased a new position in Charles River Laboratories Intl. in the second quarter valued at approximately $212,000. Institutional investors own 98.04% of the company’s stock.

About Charles River Laboratories Intl.

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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Analyst Recommendations for Charles River Laboratories Intl. (NYSE:CRL)

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