Barclays Cuts Charles River Laboratories International (NYSE:CRL) Price Target to $145.00

Charles River Laboratories International (NYSE:CRL) had its price target decreased by equities research analysts at Barclays from $160.00 to $145.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the medical research company’s stock. Barclays‘s target price would indicate a potential upside of 14.77% from the company’s previous close.

CRL has been the topic of several other reports. UBS Group restated a “neutral” rating and set a $185.00 price target (down from $250.00) on shares of Charles River Laboratories International in a report on Friday, January 17th. Morgan Stanley lowered their target price on shares of Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. JPMorgan Chase & Co. reduced their target price on shares of Charles River Laboratories International from $175.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. William Blair lowered shares of Charles River Laboratories International from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 22nd. Finally, Redburn Atlantic raised shares of Charles River Laboratories International from a “sell” rating to a “neutral” rating and set a $188.00 price objective for the company in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. According to data from MarketBeat, Charles River Laboratories International presently has a consensus rating of “Hold” and an average target price of $182.00.

Charles River Laboratories International Stock Down 9.2 %

NYSE:CRL traded down $12.73 on Thursday, reaching $126.34. The stock had a trading volume of 470,890 shares, compared to its average volume of 786,428. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $159.23 and a 200 day moving average of $178.36. The stock has a market cap of $6.21 billion, a P/E ratio of 851.14, a price-to-earnings-growth ratio of 4.54 and a beta of 1.45. Charles River Laboratories International has a 12-month low of $117.26 and a 12-month high of $254.15.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, February 19th. The medical research company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.16. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $983.63 million. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 earnings per share. On average, research analysts predict that Charles River Laboratories International will post 9.36 earnings per share for the current year.

Insider Transactions at Charles River Laboratories International

In related news, COO Birgit Girshick purchased 1,514 shares of Charles River Laboratories International stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average price of $164.63 per share, for a total transaction of $249,249.82. Following the completion of the transaction, the chief operating officer now owns 55,058 shares in the company, valued at $9,064,198.54. This represents a 2.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph W. Laplume sold 4,400 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $162.50, for a total transaction of $715,000.00. Following the transaction, the executive vice president now owns 20,013 shares of the company’s stock, valued at approximately $3,252,112.50. The trade was a 18.02 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Charles River Laboratories International

Several institutional investors have recently added to or reduced their stakes in CRL. EP Wealth Advisors LLC purchased a new stake in shares of Charles River Laboratories International in the third quarter worth about $273,000. National Bank of Canada FI grew its holdings in shares of Charles River Laboratories International by 45.4% in the third quarter. National Bank of Canada FI now owns 21,216 shares of the medical research company’s stock worth $4,179,000 after purchasing an additional 6,627 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Charles River Laboratories International by 13.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 15,592 shares of the medical research company’s stock valued at $3,071,000 after buying an additional 1,882 shares during the period. M&T Bank Corp increased its position in shares of Charles River Laboratories International by 3.4% during the third quarter. M&T Bank Corp now owns 2,001 shares of the medical research company’s stock valued at $394,000 after buying an additional 66 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in Charles River Laboratories International during the third quarter worth about $966,000. 98.91% of the stock is owned by hedge funds and other institutional investors.

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).