Charles River Laboratories International (NYSE:CRL) Rating Lowered to Hold at StockNews.com

Charles River Laboratories International (NYSE:CRL) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen lowered their price target on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating for the company in a research report on Monday, August 12th. JPMorgan Chase & Co. cut shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $270.00 to $205.00 in a research report on Thursday, August 8th. Redburn Atlantic initiated coverage on Charles River Laboratories International in a research report on Monday, October 14th. They issued a “sell” rating and a $151.00 price target on the stock. Baird R W downgraded Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, The Goldman Sachs Group reduced their target price on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $214.93.

Charles River Laboratories International Stock Performance

CRL stock opened at $215.39 on Thursday. The stock has a market capitalization of $11.12 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 6.25 and a beta of 1.38. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. The company has a 50 day moving average price of $193.91 and a 200 day moving average price of $208.49. Charles River Laboratories International has a fifty-two week low of $166.87 and a fifty-two week high of $275.00.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $975.99 million. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.72 earnings per share. Analysts forecast that Charles River Laboratories International will post 10.01 EPS for the current year.

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

Hedge Funds Weigh In On Charles River Laboratories International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hilton Capital Management LLC lifted its holdings in shares of Charles River Laboratories International by 17.4% in the third quarter. Hilton Capital Management LLC now owns 7,658 shares of the medical research company’s stock valued at $1,508,000 after purchasing an additional 1,135 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Charles River Laboratories International during the 3rd quarter worth approximately $168,000. Premier Fund Managers Ltd boosted its position in Charles River Laboratories International by 56.3% during the 3rd quarter. Premier Fund Managers Ltd now owns 250,000 shares of the medical research company’s stock worth $49,573,000 after acquiring an additional 90,000 shares during the last quarter. Swiss National Bank raised its holdings in shares of Charles River Laboratories International by 0.5% in the third quarter. Swiss National Bank now owns 152,800 shares of the medical research company’s stock valued at $30,097,000 after purchasing an additional 700 shares during the last quarter. Finally, Mizuho Securities USA LLC lifted its position in shares of Charles River Laboratories International by 2,336.4% in the third quarter. Mizuho Securities USA LLC now owns 96,871 shares of the medical research company’s stock worth $19,081,000 after purchasing an additional 92,895 shares in the last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

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).