Charles River Laboratories International, Inc. (NYSE:CRL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $129.00 price target on the medical research company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.36% 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. “

Other research analysts have also recently issued research reports about the company. Robert W. Baird reaffirmed a “buy” rating and set a $114.00 price target on shares of Charles River Laboratories International in a research report on Friday, September 1st. Credit Suisse Group reaffirmed a “neutral” rating and set a $112.00 price target (up previously from $95.00) on shares of Charles River Laboratories International in a research report on Monday, October 16th. Citigroup Inc. reaffirmed a “neutral” rating and set a $104.00 price target (up previously from $91.00) on shares of Charles River Laboratories International in a research report on Wednesday, June 28th. BidaskClub cut Charles River Laboratories International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Barclays PLC reaffirmed a “hold” rating and set a $102.00 price target on shares of Charles River Laboratories International in a research report on Wednesday, July 19th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $103.77.

Charles River Laboratories International (NYSE:CRL) traded down 0.09% during midday trading on Tuesday, reaching $114.81. The company had a trading volume of 214,059 shares. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 30.25 and a beta of 0.96. Charles River Laboratories International has a 12-month low of $67.20 and a 12-month high of $115.96. The stock’s 50 day moving average is $109.43 and its 200 day moving average is $99.39.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings data on Wednesday, August 9th. The medical research company reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.07. Charles River Laboratories International had a return on equity of 27.02% and a net margin of 10.13%. The business had revenue of $469.13 million for the quarter, compared to analysts’ expectations of $458.25 million. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. Equities research analysts expect that Charles River Laboratories International will post $5.10 earnings per share for the current year.

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In related news, insider David Ross Smith sold 2,552 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $67.10, for a total transaction of $171,239.20. Following the completion of the sale, the insider now directly owns 11,671 shares in the company, valued at approximately $783,124.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William D. Barbo sold 4,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $99.91, for a total value of $399,640.00. Following the sale, the insider now owns 20,424 shares of the company’s stock, valued at $2,040,561.84. The disclosure for this sale can be found here. Insiders have sold a total of 18,699 shares of company stock worth $1,892,393 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of CRL. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Charles River Laboratories International by 12.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,791 shares of the medical research company’s stock valued at $181,000 after acquiring an additional 202 shares during the period. Riverhead Capital Management LLC boosted its holdings in Charles River Laboratories International by 14.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,931 shares of the medical research company’s stock valued at $195,000 after acquiring an additional 247 shares during the period. Cambridge Advisors Inc. purchased a new stake in Charles River Laboratories International during the 2nd quarter valued at about $202,000. Advisor Partners LLC purchased a new stake in Charles River Laboratories International during the 2nd quarter valued at about $208,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Charles River Laboratories International during the 2nd quarter valued at about $217,000. Institutional investors own 97.22% of the company’s stock.

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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