Charles River Laboratories International Inc. (CRL) Downgraded by Zacks Investment Research
Charles River Laboratories International Inc. (NYSE:CRL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Charles River Laboratories is a leading provider of critical research tools and integrated support services that enable innovative and efficient drug discovery and development. Charles River is the global leader in providing the animal research models required in research and development for new drugs, devices and therapies and has been in this business for more than 50 years. “
A number of other research analysts have also recently issued reports on CRL. Evercore ISI reiterated a “hold” rating and set a $91.50 price objective (up from $83.50) on shares of Charles River Laboratories International in a report on Thursday, August 4th. Jefferies Group boosted their price target on shares of Charles River Laboratories International from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Citigroup Inc. boosted their price target on shares of Charles River Laboratories International from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. Finally, Credit Suisse Group AG restated a “neutral” rating on shares of Charles River Laboratories International in a report on Friday, September 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $85.96.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/charles-river-laboratories-international-inc-crl-downgraded-by-zacks-investment-research.html
Charles River Laboratories International (NYSE:CRL) traded down 0.31% on Friday, reaching $83.04. 288,586 shares of the company’s stock traded hands. The company’s 50 day moving average is $82.38 and its 200-day moving average is $82.63. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 28.05 and a beta of 1.14. Charles River Laboratories International has a 52-week low of $61.91 and a 52-week high of $89.18.
Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The firm earned $434.10 million during the quarter, compared to analysts’ expectations of $425.05 million. Charles River Laboratories International had a net margin of 9.49% and a return on equity of 25.18%. The business’s revenue was up 27.8% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. Equities analysts expect that Charles River Laboratories International will post $4.46 EPS for the current year.
In other news, insider Davide Molho sold 7,877 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $84.10, for a total value of $662,455.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard F. Wallman sold 7,740 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $88.00, for a total transaction of $681,120.00. Following the completion of the sale, the director now directly owns 24,190 shares in the company, valued at approximately $2,128,720. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of CRL. BlackRock Japan Co. Ltd raised its stake in Charles River Laboratories International by 55.9% in the second quarter. BlackRock Japan Co. Ltd now owns 1,640 shares of the company’s stock valued at $135,000 after buying an additional 588 shares during the period. Laurion Capital Management LP purchased a new position in shares of Charles River Laboratories International during the second quarter valued at approximately $209,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Charles River Laboratories International by 4.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,769 shares of the company’s stock valued at $210,000 after buying an additional 117 shares in the last quarter. LaSalle Street Capital Management LLC purchased a new position in shares of Charles River Laboratories International during the second quarter valued at approximately $215,000. Finally, Calvert Investment Management Inc. purchased a new position in shares of Charles River Laboratories International during the second quarter valued at approximately $223,000. 96.19% of the stock is currently owned by institutional investors.
About Charles River Laboratories International
Charles River Laboratories International, Inc is a full service, early-stage contract research company. The Company is engaged in the business of providing the research models required in research and development of new drugs, devices and therapies. The Company operates through three segments: Research Models and Services (RMS), which consists of Research Models and Research Model Services; Discovery and Safety Assessment (DSA), which offers discovery and safety assessment services, both regulated and non-regulated, in which it includes both in vivo and in vitro studies, and Manufacturing Support (Manufacturing), which includes Microbial Solutions, Biologics Testing Solutions and Avian Vaccine Services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Charles River Laboratories International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles River Laboratories International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.