Charles River Laboratories International (NYSE:CRL) Shares Gap Down – What’s Next?

Charles River Laboratories International, Inc. (NYSE:CRL)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $190.14, but opened at $179.87. Charles River Laboratories International shares last traded at $179.71, with a volume of 207,216 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CRL shares. StockNews.com downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird reduced their price target on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, September 20th. CLSA downgraded Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price target for the company. in a report on Monday, November 18th. Redburn Atlantic started coverage on Charles River Laboratories International in a report on Monday, October 14th. They set a “sell” rating and a $151.00 price target for the company. Finally, Bank of America reduced their price target on Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $214.00.

Charles River Laboratories International Price Performance

The firm has a market capitalization of $9.14 billion, a PE ratio of 22.37, a PEG ratio of 5.00 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14. The firm has a 50-day simple moving average of $193.57 and a 200-day simple moving average of $199.32.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.16. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $2.72 earnings per share. As a group, equities analysts forecast that Charles River Laboratories International, Inc. will post 10.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 6,621 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $216.12, for a total value of $1,430,930.52. Following the transaction, the director now directly owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. The trade was a 34.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CRL. Wellington Management Group LLP lifted its holdings in Charles River Laboratories International by 135,927.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,740,768 shares of the medical research company’s stock worth $736,819,000 after purchasing an additional 3,738,018 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Charles River Laboratories International by 40.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock worth $346,821,000 after purchasing an additional 509,163 shares in the last quarter. Marshall Wace LLP lifted its holdings in Charles River Laboratories International by 24.6% in the 2nd quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company’s stock worth $170,615,000 after purchasing an additional 163,056 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Charles River Laboratories International in the 2nd quarter worth approximately $33,053,000. Finally, Earnest Partners LLC lifted its holdings in Charles River Laboratories International by 12.4% in the 2nd quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock worth $207,507,000 after purchasing an additional 110,725 shares in the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

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).