Charles River Laboratories International (NYSE:CRL) Hits New 1-Year High – Here’s What Happened

Charles River Laboratories International, Inc. (NYSE:CRL)’s share price reached a new 52-week high on Monday . The stock traded as high as $201.58 and last traded at $201.87, with a volume of 59600 shares traded. The stock had previously closed at $197.06.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Jefferies Financial Group raised Charles River Laboratories International from a “hold” rating to a “buy” rating and increased their target price for the stock from $142.00 to $195.00 in a research note on Tuesday, September 9th. Barclays increased their price objective on shares of Charles River Laboratories International from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Morgan Stanley set a $185.00 target price on shares of Charles River Laboratories International in a report on Monday, December 1st. TD Cowen cut their price target on shares of Charles River Laboratories International from $205.00 to $197.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Finally, Bank of America upgraded shares of Charles River Laboratories International from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $195.93.

Charles River Laboratories International Stock Up 0.1%

The company’s 50-day simple moving average is $181.14 and its two-hundred day simple moving average is $166.54. The firm has a market capitalization of $10.00 billion, a P/E ratio of -130.22, a P/E/G ratio of 7.17 and a beta of 1.63. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.37 and a quick ratio of 1.10.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results on Wednesday, November 5th. The medical research company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.11. Charles River Laboratories International had a positive return on equity of 15.78% and a negative net margin of 2.07%.The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $990.43 million. During the same period last year, the firm earned $2.59 EPS. Charles River Laboratories International’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts expect that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Hedge Funds Weigh In On Charles River Laboratories International

Large investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its stake in shares of Charles River Laboratories International by 1.3% in the second quarter. Exchange Traded Concepts LLC now owns 5,742 shares of the medical research company’s stock worth $871,000 after purchasing an additional 76 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Charles River Laboratories International by 11.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 793 shares of the medical research company’s stock worth $124,000 after buying an additional 80 shares during the period. Advisory Services Network LLC increased its stake in Charles River Laboratories International by 2.6% in the 3rd quarter. Advisory Services Network LLC now owns 3,226 shares of the medical research company’s stock worth $505,000 after buying an additional 83 shares in the last quarter. Rothschild Investment LLC raised its holdings in Charles River Laboratories International by 82.4% during the third quarter. Rothschild Investment LLC now owns 186 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 84 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in shares of Charles River Laboratories International by 4.2% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 2,120 shares of the medical research company’s stock valued at $332,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

About Charles River Laboratories International

Charles River Laboratories International, Inc is a leading provider of research models and preclinical and clinical support services for the pharmaceutical, biotechnology and medical device industries. The company’s core offerings include discovery, safety assessment, toxicology, and pathology services, as well as supply of laboratory animals and related diagnostics. Services extend across in vivo and in vitro testing, biologics testing, and support for advanced therapies, helping clients accelerate drug development from early discovery through regulatory submission.

Founded in 1947 in Wilmington, Massachusetts, Charles River has grown through strategic investments and acquisitions to establish a broad portfolio of capabilities.