Charles River Laboratories International, Inc. (NYSE:CRL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $111.00 target price on the medical research company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.03% from the company’s previous close.

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 equities research analysts also recently weighed in on CRL. Barclays PLC set a $90.00 target price on Charles River Laboratories International and gave the company a “hold” rating in a report on Saturday, May 13th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $121.00 target price on shares of Charles River Laboratories International in a report on Friday, June 30th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $104.00 target price (up previously from $91.00) on shares of Charles River Laboratories International in a report on Wednesday, June 28th. BidaskClub raised Charles River Laboratories International from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $95.00 price target (up from $89.00) on shares of Charles River Laboratories International in a research note on Tuesday, June 6th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Charles River Laboratories International currently has a consensus rating of “Buy” and an average target price of $97.19.

Shares of Charles River Laboratories International (CRL) traded up 0.58% during trading on Wednesday, reaching $99.97. The company’s stock had a trading volume of 247,857 shares. Charles River Laboratories International has a 52-week low of $67.20 and a 52-week high of $102.32. The company has a market cap of $4.76 billion, a PE ratio of 29.26 and a beta of 1.03. The firm’s 50-day moving average is $94.16 and its 200 day moving average is $87.11.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, May 10th. The medical research company reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.15. The firm had revenue of $445.80 million for the quarter, compared to the consensus estimate of $437.04 million. Charles River Laboratories International had a return on equity of 27.46% and a net margin of 9.28%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, equities research analysts predict that Charles River Laboratories International will post $5.10 EPS for the current fiscal year.

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In related news, Chairman James C. Foster sold 9,516 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $98.92, for a total transaction of $941,322.72. Following the completion of the transaction, the chairman now directly owns 361,171 shares of the company’s stock, valued at approximately $35,727,035.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director George Massaro sold 1,130 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $88.30, for a total value of $99,779.00. Following the transaction, the director now directly owns 15,831 shares of the company’s stock, valued at $1,397,877.30. The disclosure for this sale can be found here. Insiders sold a total of 76,669 shares of company stock valued at $7,560,089 over the last quarter. 2.20% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CRL. Capstone Asset Management Co. raised its position in Charles River Laboratories International by 400.4% in the second quarter. Capstone Asset Management Co. now owns 23,378 shares of the medical research company’s stock valued at $2,365,000 after buying an additional 18,706 shares during the period. Charter Trust Co. raised its position in Charles River Laboratories International by 11.2% in the second quarter. Charter Trust Co. now owns 3,368 shares of the medical research company’s stock valued at $341,000 after buying an additional 338 shares during the period. Blue Sky Asset Management LLC acquired a new position in Charles River Laboratories International during the first quarter valued at $942,000. Tudor Investment Corp ET AL raised its position in Charles River Laboratories International by 31.7% in the first quarter. Tudor Investment Corp ET AL now owns 11,224 shares of the medical research company’s stock valued at $1,010,000 after buying an additional 2,704 shares during the period. Finally, Endurant Capital Management LP raised its position in Charles River Laboratories International by 28.7% in the first quarter. Endurant Capital Management LP now owns 23,788 shares of the medical research company’s stock valued at $2,140,000 after buying an additional 5,300 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories International Company Profile

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.

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

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