Charles River Laboratories International (NYSE:CRL) Given New $250.00 Price Target at UBS Group

Charles River Laboratories International (NYSE:CRL) had its price objective upped by stock analysts at UBS Group from $240.00 to $250.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. UBS Group’s target price indicates a potential upside of 16.07% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Evercore ISI raised their price target on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a research note on Thursday. JPMorgan Chase & Co. lowered Charles River Laboratories International from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $270.00 to $205.00 in a research report on Thursday, August 8th. Bank of America downgraded Charles River Laboratories International from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $215.00 in a research report on Wednesday, October 2nd. Citigroup cut Charles River Laboratories International from a “neutral” rating to a “sell” rating and reduced their target price for the company from $215.00 to $175.00 in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group dropped their price target on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $214.93.

Charles River Laboratories International Trading Up 2.4 %

CRL opened at $215.39 on Thursday. The company has a market cap of $11.12 billion, a P/E ratio of 25.80, a PEG ratio of 6.25 and a beta of 1.38. 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’s 50 day moving average is $193.91 and its 200-day moving average is $208.49. Charles River Laboratories International has a 1-year low of $166.87 and a 1-year high of $275.00.

Charles River Laboratories International (NYSE:CRL) last posted its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $975.99 million. During the same quarter in the previous year, the firm posted $2.72 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. Equities research analysts predict that Charles River Laboratories International will post 10.01 earnings per share for the current fiscal year.

Charles River Laboratories International announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Charles River Laboratories International

Several institutional investors have recently made changes to their positions in CRL. Tortoise Investment Management LLC increased its holdings in Charles River Laboratories International by 77.0% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after buying an additional 57 shares during the last quarter. Wolff Wiese Magana LLC purchased a new position in Charles River Laboratories International during the 3rd quarter valued at about $32,000. Assetmark Inc. increased its position in shares of Charles River Laboratories International by 1,153.3% during the third quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock valued at $37,000 after buying an additional 173 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Charles River Laboratories International in the first quarter worth about $41,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Charles River Laboratories International by 219.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock valued at $58,000 after acquiring an additional 193 shares during the period. Institutional investors own 98.91% of the company’s stock.

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).