TD Cowen Forecasts Strong Price Appreciation for Charles River Laboratories International (NYSE:CRL) Stock

Charles River Laboratories International (NYSE:CRL) had its price objective upped by TD Cowen from $203.00 to $227.00 in a report issued on Monday morning,Benzinga reports. TD Cowen currently has a hold rating on the medical research company’s stock.

CRL has been the topic of several other research reports. StockNews.com downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. CLSA raised Charles River Laboratories International from an “underperform” rating to a “hold” rating and set a $205.00 price target for the company in a research note on Thursday, November 7th. Evercore ISI increased their price objective on Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. 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, Bank of America downgraded shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $215.00 in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Charles River Laboratories International currently has an average rating of “Hold” and a consensus target price of $217.54.

Charles River Laboratories International Trading Down 4.6 %

Shares of NYSE CRL opened at $196.97 on Monday. The stock has a market capitalization of $10.07 billion, a P/E ratio of 24.65, a PEG ratio of 5.33 and a beta of 1.38. The stock’s 50 day moving average price is $195.26 and its two-hundred day moving average price is $207.82. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61. Charles River Laboratories International has a 52-week low of $176.48 and a 52-week high of $275.00.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings data 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. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $975.99 million. During the same period last year, the business posted $2.72 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts anticipate that Charles River Laboratories International will post 10.19 earnings per share for the current fiscal year.

Charles River Laboratories International announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 9.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Charles River Laboratories International

In related news, Director Richard F. Wallman sold 6,621 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total value of $1,430,930.52. Following the completion of the sale, the director now directly owns 12,386 shares in the company, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Charles River Laboratories International

Large investors have recently made changes to their positions in the stock. Centiva Capital LP acquired a new stake in shares of Charles River Laboratories International in the third quarter worth $1,431,000. Benjamin Edwards Inc. lifted its position in Charles River Laboratories International by 256.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 1,451 shares of the medical research company’s stock worth $286,000 after acquiring an additional 1,044 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in Charles River Laboratories International by 15.1% during the third quarter. Public Sector Pension Investment Board now owns 2,282 shares of the medical research company’s stock valued at $449,000 after acquiring an additional 300 shares during the period. Financial Counselors Inc. boosted its holdings in Charles River Laboratories International by 22.6% during the third quarter. Financial Counselors Inc. now owns 26,592 shares of the medical research company’s stock valued at $5,238,000 after acquiring an additional 4,896 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Charles River Laboratories International by 4.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,812 shares of the medical research company’s stock valued at $1,933,000 after purchasing an additional 423 shares during the last quarter. Institutional investors 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).