Insider Selling: Charles River Laboratories CFO Sells 23,156 Shares of Stock (CRL)
Charles River Laboratories (NYSE:CRL) CFO Thomas F. Ackerman sold 23,156 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $59.25, for a total transaction of $1,371,993.00. Following the completion of the sale, the chief financial officer now directly owns 125,704 shares in the company, valued at approximately $7,447,962. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on CRL. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Charles River Laboratories in a research note on Wednesday, August 13th. They now have a $59.00 price target on the stock, up previously from $58.00. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Charles River Laboratories in a research note on Friday, August 8th. They now have a $60.00 price target on the stock, up previously from $56.00. Finally, analysts at SunTrust initiated coverage on shares of Charles River Laboratories in a research note on Tuesday, June 24th. They set a “neutral” rating and a $55.00 price target on the stock. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Charles River Laboratories currently has an average rating of “Hold” and a consensus target price of $58.00.
Shares of Charles River Laboratories (NYSE:CRL) traded up 0.40% during mid-day trading on Tuesday, hitting $59.68. The stock had a trading volume of 173,706 shares. Charles River Laboratories has a 1-year low of $44.12 and a 1-year high of $62.50. The stock’s 50-day moving average is $54.64 and its 200-day moving average is $56.05. The company has a market cap of $2.786 billion and a P/E ratio of 24.31.
Charles River Laboratories (NYSE:CRL) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.82 by $0.15. The company had revenue of $341.18 million for the quarter, compared to the consensus estimate of $327.96 million. During the same quarter last year, the company posted $0.73 earnings per share. Charles River Laboratories’s revenue was up 16.5% compared to the same quarter last year. On average, analysts predict that Charles River Laboratories will post $3.33 earnings per share for the current fiscal year.
Charles River Laboratories International, Inc is a global provider of solutions, which accelerate the early-stage drug discovery and development process.
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