Charles River Laboratories International (NYSE:CRL) PT Lowered to $210.00

Charles River Laboratories International (NYSE:CRL) had its target price lowered by research analysts at Barclays from $230.00 to $210.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s target price suggests a potential upside of 4.49% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a report on Thursday. Evercore ISI reduced their target price on Charles River Laboratories International from $265.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday. StockNews.com cut Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Argus reiterated a “hold” rating on shares of Charles River Laboratories International in a research report on Friday, June 28th. Finally, Robert W. Baird cut Charles River Laboratories International from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $239.00 to $191.00 in a report on Thursday. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $232.79.

Charles River Laboratories International Price Performance

NYSE CRL traded down $0.96 on Thursday, reaching $200.97. The company’s stock had a trading volume of 1,060,174 shares, compared to its average volume of 581,319. Charles River Laboratories International has a 52 week low of $161.65 and a 52 week high of $275.00. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.73. The firm has a market cap of $10.35 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 2.32 and a beta of 1.38. The business has a 50-day moving average price of $214.99 and a 200 day moving average price of $231.28.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings data on Thursday, May 9th. The medical research company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.22. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $997.24 million. Charles River Laboratories International had a return on equity of 15.16% and a net margin of 10.81%. Sell-side analysts expect that Charles River Laboratories International will post 10.99 EPS for the current year.

Charles River Laboratories International declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical research company to purchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Tortoise Investment Management LLC raised its position in shares of Charles River Laboratories International by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 57 shares during the period. Headlands Technologies LLC acquired a new stake in Charles River Laboratories International in the first quarter worth $41,000. VisionPoint Advisory Group LLC boosted its position in shares of Charles River Laboratories International by 45.1% during the fourth quarter. VisionPoint Advisory Group LLC now owns 209 shares of the medical research company’s stock worth $49,000 after purchasing an additional 65 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Charles River Laboratories International by 76.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical research company’s stock valued at $52,000 after buying an additional 95 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Charles River Laboratories International by 219.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 193 shares during the period. Institutional investors and hedge funds own 98.91% of the company’s stock.

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).