Charles River Laboratories International (NYSE:CRL) Shares Gap Down to $243.66

Charles River Laboratories International, Inc. (NYSE:CRLGet Rating)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $243.66, but opened at $218.92. Charles River Laboratories International shares last traded at $219.37, with a volume of 2,649 shares traded.

Analysts Set New Price Targets

CRL has been the subject of a number of research analyst reports. Jefferies Financial Group downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating and lowered their price target for the company from $370.00 to $280.00 in a report on Monday, April 25th. Guggenheim assumed coverage on Charles River Laboratories International in a research note on Monday, May 23rd. They issued a “neutral” rating for the company. They noted that the move was a valuation call. KeyCorp reduced their price objective on Charles River Laboratories International from $390.00 to $300.00 in a research note on Thursday, May 5th. Morgan Stanley cut Charles River Laboratories International from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $350.00 to $250.00 in a research note on Thursday. Finally, Stephens set a $315.00 price objective on Charles River Laboratories International in a research note on Monday, June 20th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Charles River Laboratories International presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.00.

Charles River Laboratories International Price Performance

The stock has a fifty day moving average of $226.50 and a two-hundred day moving average of $262.75. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 1.51 and a beta of 1.29. The company has a quick ratio of 1.12, a current ratio of 1.34 and a debt-to-equity ratio of 1.02.

Charles River Laboratories International (NYSE:CRLGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The medical research company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.03. Charles River Laboratories International had a return on equity of 21.90% and a net margin of 11.64%. The firm had revenue of $973.13 million for the quarter, compared to analyst estimates of $995.12 million. During the same quarter in the prior year, the company posted $2.61 earnings per share. Charles River Laboratories International’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Charles River Laboratories International, Inc. will post 11.5 earnings per share for the current year.

Insider Buying and Selling

In related news, Director George Massaro sold 178 shares of the company’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $230.96, for a total transaction of $41,110.88. Following the transaction, the director now owns 4,677 shares of the company’s stock, valued at $1,080,199.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in Charles River Laboratories International in the fourth quarter valued at $205,000. Allspring Global Investments Holdings LLC acquired a new stake in Charles River Laboratories International in the fourth quarter valued at $6,535,000. Commonwealth Equity Services LLC grew its holdings in Charles River Laboratories International by 13.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 18,752 shares of the medical research company’s stock valued at $7,065,000 after purchasing an additional 2,216 shares during the last quarter. Yousif Capital Management LLC acquired a new stake in Charles River Laboratories International in the fourth quarter valued at $3,444,000. Finally, CWM LLC acquired a new stake in Charles River Laboratories International in the fourth quarter valued at $87,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Charles River Laboratories International Company Profile

(Get Rating)

Charles River Laboratories International, Inc, a non-clinical contract research organization, 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).

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