Charles River Laboratories International, Inc. (CRL) Given New $115.00 Price Target at Bank of America Corporation

Charles River Laboratories International, Inc. (NYSE:CRL) had its target price reduced by Bank of America Corporation from $117.00 to $115.00 in a research note released on Friday morning. They currently have a buy rating on the medical research company’s stock.

Several other research firms also recently commented on CRL. Zacks Investment Research downgraded Charles River Laboratories International from a buy rating to a hold rating in a report on Tuesday, July 25th. Robert W. Baird reiterated a buy rating and issued a $114.00 price objective on shares of Charles River Laboratories International in a report on Friday, September 1st. BidaskClub downgraded Charles River Laboratories International from a strong-buy rating to a buy rating in a report on Monday, July 31st. Royal Bank of Canada initiated coverage on Charles River Laboratories International in a report on Tuesday, September 19th. They set a sector perform rating and a $110.00 price target on the stock. Finally, Credit Suisse Group restated a neutral rating and set a $112.00 price target (up previously from $95.00) on shares of Charles River Laboratories International in a report on Monday, October 16th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $105.77.

Shares of Charles River Laboratories International (NYSE:CRL) traded down $0.73 during mid-day trading on Friday, reaching $102.12. The company’s stock had a trading volume of 1,051,700 shares, compared to its average volume of 380,128. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.49 and a current ratio of 1.88. Charles River Laboratories International has a 52-week low of $69.51 and a 52-week high of $119.05. The company has a market capitalization of $4,871.13, a price-to-earnings ratio of 20.21, a P/E/G ratio of 1.65 and a beta of 0.94.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Thursday, November 9th. The medical research company reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.08. Charles River Laboratories International had a return on equity of 26.58% and a net margin of 10.72%. The firm had revenue of $464.23 million during the quarter, compared to analyst estimates of $458.93 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. equities analysts expect that Charles River Laboratories International will post 5.11 earnings per share for the current fiscal year.

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In other news, insider David Ross Smith sold 2,552 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $67.10, for a total value of $171,239.20. Following the sale, the insider now directly owns 11,671 shares of the company’s stock, valued at approximately $783,124.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Davide Molho sold 6,165 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $110.00, for a total value of $678,150.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,699 shares of company stock worth $1,892,393. Insiders own 2.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CRL. Lord Abbett & CO. LLC bought a new position in Charles River Laboratories International in the 2nd quarter valued at approximately $65,915,000. FMR LLC lifted its position in Charles River Laboratories International by 23.8% in the 2nd quarter. FMR LLC now owns 3,079,179 shares of the medical research company’s stock valued at $311,458,000 after acquiring an additional 591,066 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Charles River Laboratories International in the 3rd quarter valued at approximately $35,182,000. FIL Ltd lifted its position in Charles River Laboratories International by 325.4% in the 2nd quarter. FIL Ltd now owns 417,465 shares of the medical research company’s stock valued at $42,227,000 after acquiring an additional 319,324 shares in the last quarter. Finally, Koch Industries Inc. bought a new position in Charles River Laboratories International in the 2nd quarter valued at approximately $240,000. 97.27% of the stock is currently owned by institutional investors and hedge funds.

About Charles River Laboratories International

Charles River Laboratories International, Inc is an early-stage contract research company. The Company is engaged in laboratory animal medicine and science (research model technologies) and develop a portfolio of discovery and safety assessment services, both good laboratory practice (GLP) and non-GLP, which supports its clients from target identification through non-clinical development.

Analyst Recommendations for Charles River Laboratories International (NYSE:CRL)

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