Charles River Associates (NASDAQ:CRAI) Sets New 52-Week High on Analyst Upgrade

Shares of Charles River Associates (NASDAQ:CRAI) reached a new 52-week high during mid-day trading on Tuesday after Barrington Research raised their price target on the stock from $239.00 to $245.00. Barrington Research currently has an outperform rating on the stock. Charles River Associates traded as high as $216.06 and last traded at $215.30, with a volume of 106912 shares trading hands. The stock had previously closed at $213.00.

A number of other equities analysts have also recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Charles River Associates in a report on Monday, December 29th. Wall Street Zen lowered shares of Charles River Associates from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $245.00.

Insider Buying and Selling

In other news, EVP Jonathan D. Yellin sold 1,750 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $174.38, for a total transaction of $305,165.00. Following the completion of the transaction, the executive vice president owned 15,573 shares of the company’s stock, valued at $2,715,619.74. This represents a 10.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Charles River Associates

A number of institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new position in Charles River Associates during the first quarter worth approximately $27,000. Longboard Asset Management LP acquired a new stake in shares of Charles River Associates during the 3rd quarter worth $217,000. Strs Ohio purchased a new position in shares of Charles River Associates in the 1st quarter worth $329,000. Kennedy Capital Management LLC raised its position in shares of Charles River Associates by 9.3% in the 2nd quarter. Kennedy Capital Management LLC now owns 3,910 shares of the business services provider’s stock worth $733,000 after buying an additional 333 shares during the period. Finally, Arkadios Wealth Advisors boosted its holdings in Charles River Associates by 4.4% in the second quarter. Arkadios Wealth Advisors now owns 4,253 shares of the business services provider’s stock valued at $797,000 after acquiring an additional 180 shares during the last quarter. 84.13% of the stock is currently owned by hedge funds and other institutional investors.

Charles River Associates Price Performance

The stock has a market cap of $1.41 billion, a PE ratio of 25.79, a P/E/G ratio of 1.52 and a beta of 0.90. The stock has a 50-day simple moving average of $191.95 and a 200-day simple moving average of $190.81.

Charles River Associates (NASDAQ:CRAI) last released its quarterly earnings data on Thursday, October 30th. The business services provider reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.26. Charles River Associates had a return on equity of 26.33% and a net margin of 7.74%.The company had revenue of $185.89 million for the quarter, compared to the consensus estimate of $179.42 million. As a group, equities research analysts anticipate that Charles River Associates will post 7.52 EPS for the current year.

Charles River Associates Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Tuesday, November 25th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Charles River Associates’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Tuesday, November 25th. Charles River Associates’s dividend payout ratio is presently 27.40%.

Charles River Associates Company Profile

Charles River Associates (NASDAQ: CRAI) is a global consulting firm specializing in economic, financial and management advisory services. Founded in 1965 and headquartered in Boston, Massachusetts, the company provides expert analysis to support litigation, regulatory proceedings, and strategic decision-making. Its multidisciplinary teams draw on academic rigor and industry experience to deliver quantitative and qualitative insights tailored to clients’ needs.

The firm’s service offerings include competition economics, antitrust and merger analysis, intellectual property valuation and damages assessment, and risk management.