Charles River Laboratories International (NYSE:CRL) Given New $190.00 Price Target at Robert W. Baird

Charles River Laboratories International (NYSE:CRL) had its price target cut by Robert W. Baird from $191.00 to $190.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. Robert W. Baird’s price target indicates a potential downside of 9.27% from the company’s current price.

Other equities analysts have also issued research reports about the company. Argus reissued a “hold” rating on shares of Charles River Laboratories International in a report on Friday, June 28th. StockNews.com raised Charles River Laboratories International from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. TD Cowen cut their price objective on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Barclays dropped their target price on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $230.93.

Charles River Laboratories International Stock Performance

Shares of Charles River Laboratories International stock opened at $209.42 on Friday. The business has a 50-day simple moving average of $209.57 and a 200-day simple moving average of $224.53. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58. Charles River Laboratories International has a one year low of $161.65 and a one year high of $275.00. The company has a market cap of $10.79 billion, a PE ratio of 24.64, a P/E/G ratio of 3.89 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.39 by $0.41. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. On average, equities research analysts forecast that Charles River Laboratories International will post 10.01 EPS for the current fiscal year.

Charles River Laboratories International declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 9.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Charles River Laboratories International

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Charles River Laboratories International by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 6,046,467 shares of the medical research company’s stock worth $1,638,290,000 after acquiring an additional 66,161 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Charles River Laboratories International by 1.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company’s stock valued at $394,359,000 after buying an additional 31,359 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Charles River Laboratories International by 3.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,513,138 shares of the medical research company’s stock worth $409,985,000 after buying an additional 45,079 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Charles River Laboratories International by 11.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,251,618 shares of the medical research company’s stock worth $258,559,000 after buying an additional 132,802 shares in the last quarter. Finally, Meritage Group LP grew its stake in Charles River Laboratories International by 2.3% in the 1st quarter. Meritage Group LP now owns 1,182,268 shares of the medical research company’s stock valued at $320,336,000 after acquiring an additional 26,892 shares during the last quarter. 98.91% of the stock is owned by hedge funds and other 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).