Evercore ISI Upgrades Charles River Laboratories International (NYSE:CRL) to Outperform

Charles River Laboratories International (NYSE:CRL) was upgraded by stock analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a report issued on Thursday, MarketBeat.com reports. The firm currently has a $170.00 target price on the medical research company’s stock. Evercore ISI’s price objective indicates a potential upside of 22.44% from the company’s current price.

Several other research analysts also recently commented on the company. Morgan Stanley dropped their price target 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. Redburn Atlantic upgraded shares of Charles River Laboratories International from a “sell” rating to a “neutral” rating and set a $188.00 target price for the company in a research note on Monday, March 3rd. Citigroup upgraded shares of Charles River Laboratories International from a “sell” rating to a “neutral” rating and raised their price target for the stock from $155.00 to $175.00 in a research report on Tuesday, March 4th. The Goldman Sachs Group lowered shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $190.00 to $170.00 in a research report on Friday, March 21st. Finally, Barclays decreased their target price on Charles River Laboratories International from $160.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Charles River Laboratories International currently has an average rating of “Hold” and an average target price of $176.00.

Charles River Laboratories International Trading Down 1.8 %

NYSE:CRL opened at $138.84 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $138.40 and its 200-day moving average is $166.46. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 925.60, a P/E/G ratio of 4.54 and a beta of 1.50. Charles River Laboratories International has a 12 month low of $91.86 and a 12 month high of $254.15.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, May 7th. The medical research company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.28. The company had revenue of $984.17 million during the quarter, compared to analysts’ expectations of $942.34 million. Charles River Laboratories International had a net margin of 0.52% and a return on equity of 14.69%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.27 earnings per share. Equities analysts anticipate that Charles River Laboratories International will post 9.36 EPS for the current year.

Insider Activity at Charles River Laboratories International

In other Charles River Laboratories International news, 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 transaction, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Birgit Girshick bought 1,514 shares of the stock in a transaction dated Thursday, February 20th. The stock was acquired at an average price of $164.63 per share, with a total value of $249,249.82. Following the completion of the purchase, the chief operating officer now owns 55,058 shares of the company’s stock, valued at $9,064,198.54. This represents a 2.83 % increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Charles River Laboratories International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D1 Capital Partners L.P. bought a new stake in shares of Charles River Laboratories International during the fourth quarter valued at approximately $172,752,000. Assenagon Asset Management S.A. boosted its position in Charles River Laboratories International by 1,721.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 570,097 shares of the medical research company’s stock valued at $85,811,000 after buying an additional 538,792 shares during the last quarter. Norges Bank acquired a new stake in shares of Charles River Laboratories International in the 4th quarter valued at $98,886,000. Wellington Management Group LLP raised its position in shares of Charles River Laboratories International by 9.0% during the fourth quarter. Wellington Management Group LLP now owns 4,076,426 shares of the medical research company’s stock worth $752,508,000 after acquiring an additional 335,658 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of Charles River Laboratories International during the fourth quarter valued at $56,820,000. Institutional investors and hedge funds 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).