Charles River Laboratories Intl. (NYSE:CRL) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Charles River Laboratories Intl. (NYSE:CRL) from a hold rating to a buy rating in a research report released on Wednesday morning, Zacks.com reports. The firm currently has $150.00 price objective on the medical research company’s stock.

According to Zacks, “Charles River Laboratories International, Inc. provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Their dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. At Charles River, they are passionate about their role in improving the quality of people’s lives. Their mission, their excellent science and strong sense of purpose guide in all that they do, and they approach each day with the knowledge that their work helps to improve the health and well-being of many across the globe. Charles River Laboratories International, Inc. service areas are Basic research, discovery, safety and efficacy, clinical support and manufacturing. “

A number of other equities research analysts have also recently commented on the stock. SunTrust Banks increased their price target on shares of Charles River Laboratories Intl. from $156.00 to $162.00 and gave the company a buy rating in a report on Monday, September 16th. ValuEngine cut shares of Charles River Laboratories Intl. from a buy rating to a hold rating in a report on Thursday, August 1st. Svb Leerink assumed coverage on shares of Charles River Laboratories Intl. in a report on Monday, June 10th. They set an outperform rating and a $155.00 price target on the stock. Leerink Swann assumed coverage on shares of Charles River Laboratories Intl. in a report on Monday, June 10th. They set an outperform rating on the stock. Finally, Credit Suisse Group set a $138.00 price target on shares of Charles River Laboratories Intl. and gave the company a hold rating in a report on Friday, September 13th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $149.54.



NYSE:CRL opened at $138.64 on Wednesday. The company’s 50 day moving average price is $131.22 and its 200-day moving average price is $135.92. Charles River Laboratories Intl. has a 52 week low of $103.00 and a 52 week high of $149.07. The company has a quick ratio of 1.38, a current ratio of 1.59 and a debt-to-equity ratio of 1.47. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.76 and a beta of 1.09.

Charles River Laboratories Intl. (NYSE:CRL) last posted its quarterly earnings results on Wednesday, July 31st. The medical research company reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.08. Charles River Laboratories Intl. had a net margin of 8.94% and a return on equity of 22.01%. The firm had revenue of $657.60 million for the quarter, compared to analysts’ expectations of $662.61 million. During the same quarter in the prior year, the company posted $1.62 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Charles River Laboratories Intl. will post 6.52 earnings per share for the current year.

In related news, insider David Ross Smith sold 1,249 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $130.36, for a total transaction of $162,819.64. Following the transaction, the insider now owns 19,327 shares in the company, valued at $2,519,467.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC lifted its position in Charles River Laboratories Intl. by 132.1% during the second quarter. Flagship Harbor Advisors LLC now owns 318 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 181 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Charles River Laboratories Intl. during the second quarter valued at approximately $69,000. Point72 Asset Management L.P. bought a new position in Charles River Laboratories Intl. during the second quarter valued at approximately $71,000. Machina Capital S.A.S. bought a new position in Charles River Laboratories Intl. during the second quarter valued at approximately $72,000. Finally, Hilton Capital Management LLC bought a new position in Charles River Laboratories Intl. during the first quarter valued at approximately $118,000. Institutional investors own 94.31% of the company’s stock.

About Charles River Laboratories Intl.

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates in three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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