Charles River Laboratories (CRL) Downgraded by ValuEngine

Charles River Laboratories (NYSE:CRL) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research analysts have also recently commented on the company. Morgan Stanley restated an “equal weight” rating and set a $102.00 price objective (up previously from $94.00) on shares of Charles River Laboratories in a research note on Wednesday, March 14th. Barclays restated a “hold” rating and set a $110.00 price objective on shares of Charles River Laboratories in a research note on Friday, February 16th. TheStreet cut Charles River Laboratories from an “a-” rating to a “c+” rating in a research note on Tuesday, February 13th. Credit Suisse Group restated a “hold” rating and set a $108.00 price objective on shares of Charles River Laboratories in a research note on Thursday, February 15th. Finally, Royal Bank of Canada set a $116.00 price objective on Charles River Laboratories and gave the stock a “hold” rating in a research note on Tuesday, February 13th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $116.85.

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Shares of Charles River Laboratories stock opened at $102.37 on Friday. Charles River Laboratories has a twelve month low of $86.44 and a twelve month high of $119.05. The firm has a market capitalization of $5,009.44, a P/E ratio of 19.43, a PEG ratio of 1.48 and a beta of 0.68. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.54 and a current ratio of 1.78.

Charles River Laboratories (NYSE:CRL) last issued its quarterly earnings data on Tuesday, February 13th. The medical research company reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.14. The company had revenue of $478.50 million for the quarter, compared to analysts’ expectations of $475.02 million. Charles River Laboratories had a return on equity of 26.14% and a net margin of 6.64%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 earnings per share. equities research analysts predict that Charles River Laboratories will post 5.77 EPS for the current year.

In related news, Director Online Communications Bdirect sold 131,000 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $0.29, for a total value of $37,990.00. Also, Director George M. Milne, Jr. sold 7,740 shares of the business’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $115.00, for a total value of $890,100.00. Following the completion of the transaction, the director now owns 36,760 shares in the company, valued at approximately $4,227,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 193,658 shares of company stock worth $6,913,383. Insiders own 2.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CRL. Ameriprise Financial Inc. increased its holdings in Charles River Laboratories by 7.5% in the third quarter. Ameriprise Financial Inc. now owns 185,847 shares of the medical research company’s stock valued at $20,076,000 after buying an additional 12,903 shares during the last quarter. Legal & General Group Plc increased its holdings in Charles River Laboratories by 15.8% in the third quarter. Legal & General Group Plc now owns 46,119 shares of the medical research company’s stock valued at $4,982,000 after buying an additional 6,287 shares during the last quarter. Schroder Investment Management Group increased its holdings in Charles River Laboratories by 38.0% in the third quarter. Schroder Investment Management Group now owns 22,287 shares of the medical research company’s stock valued at $2,383,000 after buying an additional 6,138 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Charles River Laboratories by 5.9% in the third quarter. Wells Fargo & Company MN now owns 85,889 shares of the medical research company’s stock valued at $9,278,000 after buying an additional 4,807 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Charles River Laboratories by 5.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 282,765 shares of the medical research company’s stock valued at $30,545,000 after buying an additional 15,562 shares during the last quarter. Institutional investors and hedge funds own 99.84% of the company’s stock.

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About Charles River Laboratories

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Charles River Laboratories (NYSE:CRL)

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