Charles River Laboratories International (NYSE:CRL) Reaches New 52-Week High Following Analyst Upgrade

Charles River Laboratories International, Inc. (NYSE:CRL) shares reached a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from $165.00 to $190.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Charles River Laboratories International traded as high as $202.00 and last traded at $198.0820, with a volume of 1881 shares. The stock had previously closed at $193.03.

Several other analysts have also recently weighed in on CRL. Baird R W raised Charles River Laboratories International from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Barclays boosted their target price on Charles River Laboratories International from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday. Robert W. Baird raised shares of Charles River Laboratories International from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $178.00 to $199.00 in a research note on Thursday, November 6th. Morgan Stanley set a $185.00 price objective on Charles River Laboratories International in a research note on Monday, December 1st. Finally, William Blair raised Charles River Laboratories International from a “market perform” rating to an “outperform” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Charles River Laboratories International currently has an average rating of “Moderate Buy” and an average price target of $194.07.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Brooklyn Investment Group boosted its stake in shares of Charles River Laboratories International by 93.5% in the 1st quarter. Brooklyn Investment Group now owns 178 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. Cromwell Holdings LLC grew its stake in shares of Charles River Laboratories International by 542.9% during the second quarter. Cromwell Holdings LLC now owns 180 shares of the medical research company’s stock valued at $27,000 after buying an additional 152 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Charles River Laboratories International in the second quarter worth about $29,000. Rothschild Investment LLC lifted its stake in shares of Charles River Laboratories International by 82.4% in the 3rd quarter. Rothschild Investment LLC now owns 186 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 84 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in Charles River Laboratories International during the 3rd quarter valued at about $31,000. 98.91% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories International Trading Up 2.6%

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.37. The firm has a 50-day moving average of $177.86 and a 200-day moving average of $164.09. The firm has a market capitalization of $9.74 billion, a P/E ratio of -126.90, a price-to-earnings-growth ratio of 6.82 and a beta of 1.63.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, November 5th. The medical research company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.11. Charles River Laboratories International had a negative net margin of 2.07% and a positive return on equity of 15.78%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $990.43 million. During the same quarter last year, the business earned $2.59 earnings per share. The business’s revenue was down .5% on a year-over-year basis. On average, equities research analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

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).