Charles River Laboratories Intl. (NYSE:CRL) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Charles River Laboratories Intl. (NYSE:CRL) from a buy rating to a hold rating in a research note released on Thursday, Zacks.com reports.

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. “

Other equities research analysts have also issued reports about the company. Wells Fargo & Co initiated coverage on Charles River Laboratories Intl. in a report on Tuesday, January 7th. They issued an overweight rating and a $180.00 target price for the company. Citigroup increased their price target on Charles River Laboratories Intl. from $185.00 to $200.00 and gave the company a buy rating in a report on Wednesday. Bank of America lowered shares of Charles River Laboratories Intl. from a buy rating to a neutral rating and set a $150.00 price target on the stock. in a research report on Friday, October 18th. Cfra lifted their price target on shares of Charles River Laboratories Intl. from $165.00 to $180.00 and gave the company a strong-buy rating in a research report on Tuesday. Finally, Robert W. Baird restated an outperform rating and issued a $185.00 price objective (up from $165.00) on shares of Charles River Laboratories Intl. in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $168.88.

Charles River Laboratories Intl. stock traded up $4.18 during mid-day trading on Thursday, hitting $176.48. 458,400 shares of the company’s stock were exchanged, compared to its average volume of 370,755. Charles River Laboratories Intl. has a 1-year low of $123.17 and a 1-year high of $176.89. The stock has a 50 day moving average of $156.97 and a two-hundred day moving average of $140.99. The company has a current ratio of 1.43, a quick ratio of 1.20 and a debt-to-equity ratio of 1.30. The stock has a market cap of $7.70 billion, a P/E ratio of 37.87, a P/E/G ratio of 1.77 and a beta of 1.18.

Charles River Laboratories Intl. (NYSE:CRL) last announced its quarterly earnings results on Tuesday, February 11th. The medical research company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.18. The company had revenue of $691.10 million during the quarter, compared to analysts’ expectations of $685.46 million. Charles River Laboratories Intl. had a return on equity of 21.52% and a net margin of 9.14%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 earnings per share. As a group, research analysts predict that Charles River Laboratories Intl. will post 6.55 EPS for the current fiscal year.

In related news, VP Birgit Girshick sold 1,051 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $145.55, for a total transaction of $152,973.05. Following the completion of the transaction, the vice president now directly owns 18,728 shares in the company, valued at approximately $2,725,860.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David Ross Smith sold 4,500 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $170.29, for a total transaction of $766,305.00. Following the completion of the sale, the chief financial officer now directly owns 21,978 shares of the company’s stock, valued at $3,742,633.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,622 shares of company stock worth $3,328,849. 1.80% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Charles River Laboratories Intl. by 1.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,228 shares of the medical research company’s stock valued at $646,000 after purchasing an additional 68 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Charles River Laboratories Intl. by 6.1% during the 4th quarter. Whittier Trust Co. now owns 1,220 shares of the medical research company’s stock worth $186,000 after buying an additional 70 shares during the period. Louisiana State Employees Retirement System boosted its stake in Charles River Laboratories Intl. by 0.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the medical research company’s stock valued at $1,803,000 after buying an additional 100 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Charles River Laboratories Intl. by 1.1% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 9,050 shares of the medical research company’s stock valued at $1,382,000 after buying an additional 100 shares in the last quarter. Finally, Utah Retirement Systems boosted its stake in Charles River Laboratories Intl. by 1.1% in the 4th quarter. Utah Retirement Systems now owns 9,179 shares of the medical research company’s stock valued at $1,403,000 after buying an additional 100 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Charles River Laboratories Intl. Company Profile

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).

Recommended Story: 52-Week High/Low Prices For Stock Selection

Get a free copy of the Zacks research report on Charles River Laboratories Intl. (CRL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Charles River Laboratories Intl. (NYSE:CRL)

Receive News & Ratings for Charles River Laboratories Intl. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles River Laboratories Intl. and related companies with MarketBeat.com's FREE daily email newsletter.