Charles River Laboratories International (NYSE:CRL) Price Target Cut to $190.00 by Analysts at Robert W. Baird

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

A number of other research analysts have also recently issued reports on the stock. Evercore ISI reduced their price objective on shares of Charles River Laboratories International from $265.00 to $225.00 and set an outperform rating for the company in a report on Thursday, August 8th. StockNews.com raised Charles River Laboratories International from a hold rating to a buy rating in a report on Tuesday, August 20th. TD Cowen dropped their target price on Charles River Laboratories International from $228.00 to $203.00 and set a hold rating on the stock in a report on Monday, August 12th. Mizuho assumed coverage on Charles River Laboratories International in a report on Friday, June 7th. They set a neutral rating and a $235.00 price target for the company. Finally, JPMorgan Chase & Co. cut Charles River Laboratories International from an overweight rating to a neutral rating and dropped their price objective for the company from $270.00 to $205.00 in a research note on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $227.55.

Charles River Laboratories International Price Performance

Shares of NYSE CRL opened at $203.83 on Friday. The firm has a market capitalization of $10.50 billion, a P/E ratio of 23.98, a P/E/G ratio of 3.89 and a beta of 1.36. The firm’s 50-day moving average price is $209.09 and its 200-day moving average price is $223.05. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. Charles River Laboratories International has a 1-year low of $161.65 and a 1-year high of $275.00.

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

Charles River Laboratories International announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to buy up to 9.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRL. American Trust lifted its holdings in Charles River Laboratories International by 5.9% during the second quarter. American Trust now owns 976 shares of the medical research company’s stock valued at $202,000 after purchasing an additional 54 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Charles River Laboratories International during the 2nd quarter valued at approximately $5,422,000. Cetera Investment Advisers boosted its holdings in Charles River Laboratories International by 2.4% in the 2nd quarter. Cetera Investment Advisers now owns 9,969 shares of the medical research company’s stock worth $2,059,000 after buying an additional 229 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Charles River Laboratories International by 13.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 50,451 shares of the medical research company’s stock valued at $10,422,000 after buying an additional 6,011 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Charles River Laboratories International by 73.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 239,913 shares of the medical research company’s stock valued at $49,561,000 after acquiring an additional 101,732 shares during the period. Hedge funds and other institutional investors 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).