Morgan Stanley Lowers Charles River Laboratories International (NYSE:CRL) Price Target to $184.00

Charles River Laboratories International (NYSE:CRL) had its price target dropped by Morgan Stanley from $220.00 to $184.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the medical research company’s stock. Morgan Stanley’s price target would indicate a potential upside of 10.63% from the stock’s current price.

A number of other equities analysts have also recently issued reports on CRL. StockNews.com cut Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. UBS Group reiterated a “neutral” rating and set a $185.00 price objective (down from $250.00) on shares of Charles River Laboratories International in a report on Friday, January 17th. Bank of America dropped their target price on Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Redburn Atlantic started coverage on Charles River Laboratories International in a research report on Monday, October 14th. They issued a “sell” rating and a $151.00 target price on the stock. Finally, CLSA lowered Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price on the stock. in a research report on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $200.79.

Charles River Laboratories International Stock Performance

Charles River Laboratories International stock opened at $166.32 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61. Charles River Laboratories International has a 1 year low of $159.65 and a 1 year high of $275.00. The company has a market cap of $8.51 billion, a PE ratio of 20.82, a PEG ratio of 6.25 and a beta of 1.37. The company’s 50-day moving average is $181.32 and its two-hundred day moving average is $194.07.

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

Institutional Trading of Charles River Laboratories International

Several institutional investors have recently added to or reduced their stakes in CRL. Wellington Management Group LLP boosted its stake in Charles River Laboratories International by 135,927.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,740,768 shares of the medical research company’s stock valued at $736,819,000 after purchasing an additional 3,738,018 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Charles River Laboratories International by 40.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock valued at $346,821,000 after acquiring an additional 509,163 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Charles River Laboratories International during the 4th quarter worth $42,776,000. Mizuho Securities USA LLC raised its holdings in shares of Charles River Laboratories International by 2,336.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 96,871 shares of the medical research company’s stock worth $19,081,000 after buying an additional 92,895 shares in the last quarter. Finally, Premier Fund Managers Ltd raised its holdings in shares of Charles River Laboratories International by 56.3% during the 3rd quarter. Premier Fund Managers Ltd now owns 250,000 shares of the medical research company’s stock worth $49,573,000 after buying an additional 90,000 shares in the last quarter. 98.91% of the stock is currently owned by 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).