JPMorgan Chase & Co. Issues Positive Forecast for Charles River Laboratories International (NYSE:CRL) Stock Price

Charles River Laboratories International (NYSE:CRL) had its price objective hoisted by JPMorgan Chase & Co. from $160.00 to $165.00 in a report issued on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the medical research company’s stock.

Several other equities research analysts have also issued reports on CRL. Robert W. Baird upgraded Charles River Laboratories International from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $178.00 to $199.00 in a report on Thursday. Evercore ISI lifted their target price on shares of Charles River Laboratories International from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Charles River Laboratories International in a research report on Wednesday, October 8th. Citigroup upgraded shares of Charles River Laboratories International from a “neutral” rating to a “buy” rating and raised their price target for the company from $150.00 to $200.00 in a report on Wednesday, July 9th. Finally, Jefferies Financial Group upgraded shares of Charles River Laboratories International from a “hold” rating to a “buy” rating and upped their price objective for the stock from $142.00 to $195.00 in a report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $186.93.

Charles River Laboratories International Stock Up 1.9%

CRL stock opened at $170.82 on Thursday. The company has a 50 day moving average of $167.91 and a two-hundred day moving average of $154.56. The company has a market cap of $8.41 billion, a price-to-earnings ratio of -128.44, a PEG ratio of 4.83 and a beta of 1.53. Charles River Laboratories International has a 12-month low of $91.86 and a 12-month high of $222.10. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.69.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results on Wednesday, November 5th. The medical research company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.32 by $0.11. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $990.43 million. During the same period in the previous year, the company posted $2.59 EPS. Charles River Laboratories International’s revenue was down .5% on a year-over-year basis. On average, equities analysts anticipate that Charles River Laboratories International will post 9.36 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Joseph W. Laplume sold 800 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $157.60, for a total value of $126,080.00. Following the transaction, the executive vice president directly owned 24,116 shares in the company, valued at approximately $3,800,681.60. This trade represents a 3.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Charles River Laboratories International

Hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in shares of Charles River Laboratories International by 1.3% in the second quarter. Exchange Traded Concepts LLC now owns 5,742 shares of the medical research company’s stock valued at $871,000 after purchasing an additional 76 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Charles River Laboratories International by 11.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 793 shares of the medical research company’s stock valued at $124,000 after purchasing an additional 80 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in Charles River Laboratories International by 4.2% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 2,120 shares of the medical research company’s stock valued at $332,000 after buying an additional 85 shares during the last quarter. Brooklyn Investment Group increased its position in Charles River Laboratories International by 93.5% in the 1st quarter. Brooklyn Investment Group now owns 178 shares of the medical research company’s stock worth $27,000 after buying an additional 86 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Charles River Laboratories International by 1.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 7,142 shares of the medical research company’s stock worth $1,072,000 after buying an additional 86 shares during the last quarter. 98.91% of the stock is currently owned by institutional investors.

About Charles River Laboratories International

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).