Robert W. Baird Cuts Charles River Laboratories International (NYSE:CRL) Price Target to $190.00

Charles River Laboratories International (NYSE:CRL) had its price objective reduced by Robert W. Baird from $191.00 to $190.00 in a research note published on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the medical research company’s stock.

Several other research firms have also commented on CRL. The Goldman Sachs Group cut their price target on Charles River Laboratories International from $290.00 to $250.00 and set a buy rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. downgraded shares of Charles River Laboratories International from an overweight rating to a neutral rating and reduced their price target for the company from $270.00 to $205.00 in a research report on Thursday, August 8th. Barclays lowered their price objective on shares of Charles River Laboratories International from $230.00 to $210.00 and set an equal weight rating on the stock in a research report on Thursday, August 8th. Baird R W cut shares of Charles River Laboratories International from a strong-buy rating to a hold rating in a report on Thursday, August 8th. Finally, UBS Group lowered their price target on Charles River Laboratories International from $290.00 to $240.00 and set a buy rating on the stock in a report on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $227.55.

Charles River Laboratories International Stock Performance

Shares of CRL opened at $205.79 on Friday. The company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 3.89 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.65. Charles River Laboratories International has a 52-week low of $161.65 and a 52-week high of $275.00. The stock has a 50 day moving average price of $209.34 and a 200 day moving average price of $223.52.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.41. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. Research analysts predict that Charles River Laboratories International will post 10.01 EPS for the current fiscal year.

Charles River Laboratories International declared that its board has initiated a stock buyback program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 9.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Charles River Laboratories International

A number of institutional investors and hedge funds have recently modified their holdings of CRL. Norges Bank purchased a new stake in Charles River Laboratories International during the fourth quarter worth $101,319,000. Point72 Asset Management L.P. grew its stake in Charles River Laboratories International by 499.1% in the 4th quarter. Point72 Asset Management L.P. now owns 368,984 shares of the medical research company’s stock valued at $87,228,000 after acquiring an additional 307,398 shares during the last quarter. Meritage Group LP grew its stake in Charles River Laboratories International by 30.8% in the 4th quarter. Meritage Group LP now owns 1,155,376 shares of the medical research company’s stock valued at $273,131,000 after acquiring an additional 271,743 shares during the last quarter. Epoch Investment Partners Inc. increased its holdings in Charles River Laboratories International by 2,733.4% during the 1st quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company’s stock valued at $67,060,000 after acquiring an additional 238,766 shares in the last quarter. Finally, KBC Group NV raised its position in Charles River Laboratories International by 5,003.9% during the fourth quarter. KBC Group NV now owns 215,639 shares of the medical research company’s stock worth $50,977,000 after acquiring an additional 211,414 shares during the last quarter. 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).