Charles River Laboratories International (NYSE:CRL) Upgraded to Buy by StockNews.com

Charles River Laboratories International (NYSE:CRL) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other analysts have also weighed in on CRL. Barclays lowered their price objective on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Argus reaffirmed a “hold” rating on shares of Charles River Laboratories International in a research report on Friday, June 28th. Bank of America cut shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $215.00 in a research report on Wednesday, October 2nd. Robert W. Baird reduced their target price on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Finally, The Goldman Sachs Group dropped their price target on Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles River Laboratories International presently has a consensus rating of “Hold” and a consensus target price of $212.23.

Charles River Laboratories International Trading Up 0.4 %

Shares of Charles River Laboratories International stock opened at $193.84 on Wednesday. The firm’s 50 day moving average is $197.44 and its 200 day moving average is $214.81. The firm has a market capitalization of $9.98 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 5.11 and a beta of 1.36. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. Charles River Laboratories International has a 1 year low of $161.65 and a 1 year high of $275.00.

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

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

Hedge Funds Weigh In On Charles River Laboratories International

Several large investors have recently modified their holdings of CRL. Epoch Investment Partners Inc. lifted its stake in shares of Charles River Laboratories International by 2,733.4% in the first quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company’s stock worth $67,060,000 after buying an additional 238,766 shares in the last quarter. Marshall Wace LLP raised its position in Charles River Laboratories International by 24.6% in the 2nd quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company’s stock worth $170,615,000 after buying an additional 163,056 shares during the last quarter. 1832 Asset Management L.P. bought a new position in Charles River Laboratories International during the second quarter valued at approximately $33,053,000. Allspring Global Investments Holdings LLC grew its position in 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 purchasing an additional 132,802 shares during the period. Finally, Earnest Partners LLC raised its stake in Charles River Laboratories International by 12.4% during the 2nd quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock valued at $207,507,000 after buying an additional 110,725 shares during 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 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).