The Goldman Sachs Group Has Lowered Expectations for Charles River Laboratories International (NYSE:CRL) Stock Price

Charles River Laboratories International (NYSE:CRL) had its price objective reduced by analysts at The Goldman Sachs Group from $220.00 to $190.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 15.24% from the company’s previous close.

A number of other equities analysts have also commented on CRL. Bank of America reduced 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 research report on Friday, December 13th. Redburn Atlantic assumed coverage on shares of Charles River Laboratories International in a research report on Monday, October 14th. They set a “sell” rating and a $151.00 target price on the stock. Evercore ISI raised their target price on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. UBS Group reaffirmed a “neutral” rating and set a $185.00 target price (down from $250.00) on shares of Charles River Laboratories International in a research report on Friday, January 17th. Finally, CLSA downgraded shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price objective on the stock. in a research note on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Charles River Laboratories International presently has an average rating of “Hold” and a consensus price target of $204.38.

Charles River Laboratories International Stock Performance

Charles River Laboratories International stock opened at $164.88 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14. Charles River Laboratories International has a 1-year low of $160.85 and a 1-year high of $275.00. The firm has a market capitalization of $8.43 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 5.94 and a beta of 1.38. The company’s 50-day moving average is $186.75 and its 200 day moving average is $197.24.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $975.99 million. During the same period in the prior year, the company posted $2.72 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts forecast that Charles River Laboratories International will post 10.18 EPS for the current year.

Insider Buying and Selling at Charles River Laboratories International

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total value of $1,430,930.52. Following the completion of the sale, the director now directly owns 12,386 shares in the company, valued at $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Trust Point Inc. purchased a new position in shares of Charles River Laboratories International in the fourth quarter worth $378,000. Boston Trust Walden Corp raised its holdings in shares of Charles River Laboratories International by 4.3% in the fourth quarter. Boston Trust Walden Corp now owns 204,483 shares of the medical research company’s stock worth $37,748,000 after buying an additional 8,338 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Charles River Laboratories International by 24.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,463 shares of the medical research company’s stock worth $455,000 after buying an additional 485 shares during the last quarter. Laurus Investment Counsel Inc. raised its holdings in shares of Charles River Laboratories International by 10.4% in the fourth quarter. Laurus Investment Counsel Inc. now owns 79,150 shares of the medical research company’s stock worth $14,611,000 after buying an additional 7,435 shares during the last quarter. Finally, Forsta AP Fonden raised its holdings in shares of Charles River Laboratories International by 6.6% in the fourth quarter. Forsta AP Fonden now owns 11,300 shares of the medical research company’s stock worth $2,086,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

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).