Charles River Laboratories International (NYSE:CRL) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Charles River Laboratories International (NYSE:CRL) from a buy rating to a hold rating in a research report report published on Friday morning.

Several other research firms also recently issued reports on CRL. Evercore ISI boosted their price objective on shares of Charles River Laboratories International from $260.00 to $265.00 and gave the stock an outperform rating in a report on Thursday, February 15th. UBS Group lifted their price objective on Charles River Laboratories International from $270.00 to $290.00 and gave the stock a buy rating in a report on Thursday, February 15th. Citigroup boosted their price target on Charles River Laboratories International from $215.00 to $250.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Robert W. Baird decreased their price target on Charles River Laboratories International from $282.00 to $270.00 and set an outperform rating on the stock in a research note on Friday, May 10th. Finally, The Goldman Sachs Group began coverage on Charles River Laboratories International in a research report on Thursday, June 6th. They issued a buy rating and a $290.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Charles River Laboratories International presently has a consensus rating of Moderate Buy and a consensus price target of $256.38.

Charles River Laboratories International Stock Down 0.5 %

Charles River Laboratories International stock opened at $208.41 on Friday. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 1.98 and a beta of 1.40. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.75 and a quick ratio of 1.37. Charles River Laboratories International has a fifty-two week low of $161.65 and a fifty-two week high of $275.00. The firm has a fifty day moving average price of $226.44 and a two-hundred day moving average price of $232.42.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Thursday, May 9th. The medical research company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.22. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $997.24 million. Charles River Laboratories International had a net margin of 10.81% and a return on equity of 15.16%. As a group, analysts forecast that Charles River Laboratories International will post 11 earnings per share for the current year.

Insider Activity at Charles River Laboratories International

In related news, EVP Joseph W. Laplume sold 1,304 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $226.97, for a total value of $295,968.88. Following the completion of the sale, the executive vice president now owns 23,276 shares in the company, valued at $5,282,953.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Trust acquired a new position in Charles River Laboratories International in the first quarter valued at about $250,000. Cetera Advisors LLC boosted its position in shares of Charles River Laboratories International by 197.1% during the first quarter. Cetera Advisors LLC now owns 3,357 shares of the medical research company’s stock worth $910,000 after buying an additional 2,227 shares during the period. Cetera Investment Advisers boosted its position in shares of Charles River Laboratories International by 223.4% during the first quarter. Cetera Investment Advisers now owns 9,740 shares of the medical research company’s stock worth $2,639,000 after buying an additional 6,728 shares during the period. Atria Investments Inc boosted its position in shares of Charles River Laboratories International by 19.6% during the first quarter. Atria Investments Inc now owns 17,502 shares of the medical research company’s stock worth $4,742,000 after buying an additional 2,873 shares during the period. Finally, Sanibel Captiva Trust Company Inc. boosted its position in shares of Charles River Laboratories International by 64.7% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 30,490 shares of the medical research company’s stock worth $8,261,000 after buying an additional 11,974 shares during the period. 98.91% of the stock is owned by institutional investors and hedge funds.

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).