JPMorgan Chase & Co. Has Lowered Expectations for Charles River Laboratories International (NYSE:CRL) Stock Price

Charles River Laboratories International (NYSE:CRL) had its price target cut by stock analysts at JPMorgan Chase & Co. from $215.00 to $175.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 7.39% from the stock’s previous close.

A number of other research firms have also weighed in on CRL. StockNews.com lowered shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. UBS Group restated a “neutral” rating and issued a $185.00 price objective (down from $250.00) on shares of Charles River Laboratories International in a research report on Friday, January 17th. CLSA cut Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price for the company. in a research report on Monday, November 18th. William Blair cut Charles River Laboratories International from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 22nd. Finally, Bank of America lowered their target price on shares of Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Charles River Laboratories International has an average rating of “Hold” and an average target price of $202.08.

Charles River Laboratories International Price Performance

Shares of CRL opened at $162.95 on Monday. The firm has a market cap of $8.33 billion, a PE ratio of 20.39, a P/E/G ratio of 6.25 and a beta of 1.37. Charles River Laboratories International has a 1-year low of $159.65 and a 1-year high of $275.00. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $182.67 and a two-hundred day simple moving average of $194.47.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.16. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $975.99 million. During the same period in the previous year, the business posted $2.72 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Charles River Laboratories International will post 10.17 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard F. Wallman sold 6,621 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the completion of the transaction, the director now owns 12,386 shares in the company, valued at $2,676,862.32. The trade was a 34.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Charles River Laboratories International

Several institutional investors and hedge funds have recently made changes to their positions in CRL. Virtu Financial LLC bought a new position in shares of Charles River Laboratories International in the third quarter worth about $601,000. JPMorgan Chase & Co. grew its stake in Charles River Laboratories International by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 482,745 shares of the medical research company’s stock worth $95,086,000 after acquiring an additional 85,759 shares in the last quarter. State Street Corp grew its stake in Charles River Laboratories International by 2.0% in the 3rd quarter. State Street Corp now owns 2,130,279 shares of the medical research company’s stock worth $419,601,000 after acquiring an additional 41,421 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Charles River Laboratories International by 7.6% during the third quarter. Janus Henderson Group PLC now owns 46,018 shares of the medical research company’s stock worth $9,064,000 after acquiring an additional 3,268 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in shares of Charles River Laboratories International during the third quarter valued at approximately $966,000. 98.91% of the stock is currently owned by institutional investors.

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).