Charles River Laboratories International (NYSE:CRL) Price Target Cut to $210.00 by Analysts at Bank of America

Charles River Laboratories International (NYSE:CRL) had its target price lowered by analysts at Bank of America from $220.00 to $210.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. Bank of America‘s target price indicates a potential upside of 9.52% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird cut their price target on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Evercore ISI raised their price objective on Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. UBS Group upped their price objective on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Citigroup cut Charles River Laboratories International from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $215.00 to $175.00 in a report on Tuesday, October 1st. Finally, Redburn Atlantic began coverage on Charles River Laboratories International in a report on Monday, October 14th. They set a “sell” rating and a $151.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $214.00.

Charles River Laboratories International Stock Down 1.3 %

Shares of NYSE CRL traded down $2.52 during trading hours on Friday, hitting $191.75. 134,912 shares of the stock were exchanged, compared to its average volume of 614,776. The firm has a fifty day moving average price of $194.36 and a 200-day moving average price of $203.28. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61. Charles River Laboratories International has a 12 month low of $176.48 and a 12 month high of $275.00. The company has a market cap of $9.81 billion, a PE ratio of 23.92, a PEG ratio of 5.00 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.16. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $975.99 million. During the same quarter last year, the company earned $2.72 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts expect that Charles River Laboratories International will post 10.18 EPS for the current year.

Insiders Place Their Bets

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $216.12, for a total value of $1,430,930.52. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CRL. Wellington Management Group LLP boosted its holdings 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 in the last quarter. State Street Corp grew its holdings in Charles River Laboratories International by 2.0% during the third 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 during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Charles River Laboratories International by 1.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company’s stock worth $394,359,000 after acquiring an additional 31,359 shares during the period. Allspring Global Investments Holdings LLC raised its position in Charles River Laboratories International by 40.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock worth $346,821,000 after acquiring an additional 509,163 shares in the last quarter. Finally, Earnest Partners LLC lifted its holdings in Charles River Laboratories International by 12.4% in the second quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock valued at $207,507,000 after acquiring an additional 110,725 shares during the period. 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).