Redburn Atlantic Begins Coverage on Charles River Laboratories International (NYSE:CRL)

Redburn Atlantic initiated coverage on shares of Charles River Laboratories International (NYSE:CRL) in a report published on Monday, MarketBeat.com reports. The brokerage issued a sell rating and a $151.00 price target on the medical research company’s stock.

A number of other equities analysts also recently weighed in on CRL. UBS Group dropped their target price on Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. TD Cowen dropped their target price on Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating on the stock in a report on Monday, August 12th. StockNews.com downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Evercore ISI downgraded Charles River Laboratories International from an “outperform” rating to an “inline” rating and dropped their target price for the company from $225.00 to $190.00 in a report on Monday, October 7th. Finally, Bank of America downgraded Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $250.00 to $215.00 in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $212.23.

Charles River Laboratories International Price Performance

NYSE CRL opened at $195.11 on Monday. The stock’s 50-day moving average price is $197.34 and its two-hundred day moving average price is $214.67. The company has a current ratio of 1.58, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. The company has a market cap of $10.05 billion, a PE ratio of 22.95, a PEG ratio of 5.11 and a beta of 1.36. Charles River Laboratories International has a 1 year low of $161.65 and a 1 year high of $275.00.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.41. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Charles River Laboratories International had a return on equity of 14.96% and a net margin of 10.83%. On average, analysts predict that Charles River Laboratories International will post 10.01 EPS for the current year.

Charles River Laboratories International announced that its board has authorized a stock repurchase plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Charles River Laboratories International

Several hedge funds have recently modified their holdings of the business. Ellsworth Advisors LLC bought a new stake in shares of Charles River Laboratories International in the third quarter valued at approximately $4,095,000. Cardinal Capital Management raised its stake in shares of Charles River Laboratories International by 3.1% in the third quarter. Cardinal Capital Management now owns 10,504 shares of the medical research company’s stock valued at $2,069,000 after purchasing an additional 312 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its stake in shares of Charles River Laboratories International by 5.0% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 3,311 shares of the medical research company’s stock valued at $652,000 after purchasing an additional 157 shares in the last quarter. Wolff Wiese Magana LLC acquired a new position in shares of Charles River Laboratories International in the third quarter valued at $32,000. Finally, Creative Planning raised its stake in shares of Charles River Laboratories International by 4.0% in the third quarter. Creative Planning now owns 4,672 shares of the medical research company’s stock valued at $920,000 after purchasing an additional 180 shares in the last quarter. 98.91% of the stock is owned by institutional investors.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).