Barclays Cuts Charles River Laboratories International (NYSE:CRL) Price Target to $145.00

Charles River Laboratories International (NYSE:CRL) had its target price cut by research analysts at Barclays from $160.00 to $145.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price objective indicates a potential upside of 14.77% from the company’s current price.

CRL has been the topic of several other reports. Mizuho dropped their price objective on Charles River Laboratories International from $175.00 to $155.00 and set a “neutral” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Charles River Laboratories International from $175.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. The Goldman Sachs Group cut Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $190.00 to $170.00 in a research report on Friday, March 21st. Morgan Stanley dropped their target price on Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Finally, William Blair cut Charles River Laboratories International from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat.com, Charles River Laboratories International has an average rating of “Hold” and a consensus price target of $182.00.

Charles River Laboratories International Stock Down 9.2 %

CRL traded down $12.73 during trading on Thursday, reaching $126.34. The stock had a trading volume of 470,890 shares, compared to its average volume of 786,428. The stock’s 50 day moving average is $159.23 and its two-hundred day moving average is $178.36. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 851.14, a P/E/G ratio of 4.54 and a beta of 1.45. Charles River Laboratories International has a one year low of $117.26 and a one year high of $254.15.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, February 19th. The medical research company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.16. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $983.63 million. During the same period in the prior year, the firm posted $2.46 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, analysts expect that Charles River Laboratories International will post 9.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO James C. Foster purchased 6,075 shares of Charles River Laboratories International stock in a transaction dated Thursday, February 20th. The stock was purchased at an average cost of $165.01 per share, with a total value of $1,002,435.75. Following the transaction, the chief executive officer now owns 183,639 shares in the company, valued at approximately $30,302,271.39. The trade was a 3.42 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph W. Laplume sold 4,400 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $162.50, for a total value of $715,000.00. Following the completion of the transaction, the executive vice president now directly owns 20,013 shares of the company’s stock, valued at approximately $3,252,112.50. The trade was a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Charles River Laboratories International

Hedge funds have recently bought and sold shares of the business. Rothschild Investment LLC grew its position in Charles River Laboratories International by 480.0% in the first quarter. Rothschild Investment LLC now owns 174 shares of the medical research company’s stock worth $26,000 after acquiring an additional 144 shares during the period. Versant Capital Management Inc boosted its holdings in Charles River Laboratories International by 1,071.4% in the fourth quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 150 shares during the period. Pinnacle Bancorp Inc. boosted its holdings in Charles River Laboratories International by 52.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 65 shares during the period. Optiver Holding B.V. acquired a new stake in Charles River Laboratories International in the fourth quarter valued at $37,000. Finally, GeoWealth Management LLC increased its position in shares of Charles River Laboratories International by 311.5% during the fourth quarter. GeoWealth Management LLC now owns 251 shares of the medical research company’s stock worth $46,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).