Charles River Laboratories Intl. (NYSE:CRL) Downgraded by Zacks Investment Research

Charles River Laboratories Intl. (NYSE:CRL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.

According to Zacks, “Charles River Laboratories International, Inc. provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Their dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. At Charles River, they are passionate about their role in improving the quality of people’s lives. Their mission, their excellent science and strong sense of purpose guide in all that they do, and they approach each day with the knowledge that their work helps to improve the health and well-being of many across the globe. Charles River Laboratories International, Inc. service areas are Basic research, discovery, safety and efficacy, clinical support and manufacturing. “

Several other analysts have also recently weighed in on CRL. SunTrust Banks increased their price target on shares of Charles River Laboratories Intl. from $156.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, September 16th. ValuEngine lowered shares of Charles River Laboratories Intl. from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Credit Suisse Group set a $138.00 price objective on shares of Charles River Laboratories Intl. and gave the stock a “hold” rating in a report on Friday, September 13th. Finally, Bank of America lowered shares of Charles River Laboratories Intl. from a “buy” rating to a “neutral” rating and set a $150.00 price objective on the stock. in a report on Friday. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $150.46.

Shares of Charles River Laboratories Intl. stock traded down $5.62 during mid-day trading on Monday, hitting $128.66. The stock had a trading volume of 857,400 shares, compared to its average volume of 363,701. The firm has a 50-day moving average of $133.07 and a two-hundred day moving average of $134.48. Charles River Laboratories Intl. has a 12-month low of $103.00 and a 12-month high of $149.07. The company has a quick ratio of 1.38, a current ratio of 1.59 and a debt-to-equity ratio of 1.47. The firm has a market cap of $6.64 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 1.74 and a beta of 1.09.

Charles River Laboratories Intl. (NYSE:CRL) last posted its quarterly earnings results on Wednesday, July 31st. The medical research company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.08. Charles River Laboratories Intl. had a net margin of 8.94% and a return on equity of 22.01%. The business had revenue of $657.60 million during the quarter, compared to analysts’ expectations of $662.61 million. During the same quarter in the prior year, the company posted $1.62 EPS. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Sell-side analysts expect that Charles River Laboratories Intl. will post 6.52 earnings per share for the current year.

In other Charles River Laboratories Intl. news, insider David Ross Smith sold 1,249 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $130.36, for a total transaction of $162,819.64. Following the sale, the insider now directly owns 19,327 shares in the company, valued at approximately $2,519,467.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC raised its holdings in shares of Charles River Laboratories Intl. by 132.1% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 318 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 181 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Charles River Laboratories Intl. in the 2nd quarter valued at $69,000. Point72 Asset Management L.P. acquired a new stake in shares of Charles River Laboratories Intl. in the 2nd quarter valued at $71,000. Machina Capital S.A.S. acquired a new stake in shares of Charles River Laboratories Intl. in the 2nd quarter valued at $72,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Charles River Laboratories Intl. in the 2nd quarter valued at $133,000. Institutional investors own 94.25% 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 in three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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