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 on Tuesday.

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. “

Other equities research analysts have also recently issued reports about the company. Barclays PLC restated a “hold” rating and set a $102.00 target price on shares of Charles River Laboratories International in a research note on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating on shares of Charles River Laboratories International in a report on Wednesday, June 14th. Citigroup Inc. restated a “neutral” rating and issued a $104.00 price objective (up from $90.00) on shares of Charles River Laboratories International in a report on Thursday, May 11th. BidaskClub upgraded Charles River Laboratories International from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $95.00 price target (up previously from $89.00) on shares of Charles River Laboratories International in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $97.06.

Shares of Charles River Laboratories International (NYSE:CRL) traded down 1.50% during mid-day trading on Tuesday, hitting $100.19. The company’s stock had a trading volume of 442,827 shares. Charles River Laboratories International has a 1-year low of $67.20 and a 1-year high of $102.32. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 29.32 and a beta of 1.03. The company has a 50-day moving average of $98.59 and a 200 day moving average of $90.03.

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

Charles River Laboratories International declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 10th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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In other Charles River Laboratories International news, insider Davide Molho sold 10,976 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $92.84, for a total value of $1,019,011.84. Following the completion of the transaction, the insider now directly owns 27,525 shares of the company’s stock, valued at approximately $2,555,421. The sale was disclosed in a legal 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 shares were sold at an average price of $88.30, for a total transaction of $99,779.00. Following the completion of 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. Over the last three months, insiders sold 80,499 shares of company stock valued at $7,946,191. Insiders own 2.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parametrica Management Ltd purchased a new position in shares of Charles River Laboratories International during the first quarter valued at approximately $364,000. Private Trust Co. NA purchased a new position in shares of Charles River Laboratories International during the first quarter valued at approximately $473,000. Copper Rock Capital Partners LLC increased its position in shares of Charles River Laboratories International by 31.6% in the first quarter. Copper Rock Capital Partners LLC now owns 314,182 shares of the medical research company’s stock valued at $28,157,000 after buying an additional 75,516 shares during the last quarter. Charter Trust Co. increased its position in shares of Charles River Laboratories International by 4.6% in the first quarter. Charter Trust Co. now owns 3,030 shares of the medical research company’s stock valued at $272,000 after buying an additional 134 shares during the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in shares of Charles River Laboratories International during the first quarter valued at approximately $7,971,000. 98.05% 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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