Charles River Laboratories International (NYSE:CRL) Lowered to “Underperform” Rating by CLSA

Charles River Laboratories International (NYSE:CRL) was downgraded by equities research analysts at CLSA from a “hold” rating to an “underperform” rating in a note issued to investors on Monday,Briefing.com Automated Import reports. They presently have a $164.00 price objective on the medical research company’s stock. CLSA’s target price points to a potential downside of 12.65% from the company’s previous close.

A number of other equities analysts have also issued reports on CRL. Redburn Atlantic started coverage on shares of Charles River Laboratories International in a research report on Monday, October 14th. They set a “sell” rating and a $151.00 target price on the stock. The Goldman Sachs Group lowered their price objective 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. Bank of America cut shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and reduced their target price for the company from $250.00 to $215.00 in a report on Wednesday, October 2nd. Baird R W downgraded Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, StockNews.com lowered Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $214.38.

Charles River Laboratories International Price Performance

Shares of NYSE:CRL opened at $187.74 on Monday. Charles River Laboratories International has a 12 month low of $176.48 and a 12 month high of $275.00. The firm has a market capitalization of $9.60 billion, a P/E ratio of 23.50, a P/E/G ratio of 4.84 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14. The company’s fifty day moving average price is $195.26 and its 200 day moving average price is $207.19.

Charles River Laboratories International (NYSE:CRL) last posted its earnings results on Wednesday, November 6th. The medical research company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.72 earnings per share. As a group, sell-side analysts predict that Charles River Laboratories International will post 10.19 earnings per share for the current fiscal year.

Charles River Laboratories International declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $216.12, for a total value of $1,430,930.52. Following the completion of the transaction, the director now owns 12,386 shares in the company, valued at $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Charles River Laboratories International

Institutional investors and hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund raised its position in Charles River Laboratories International by 1.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 4,424 shares of the medical research company’s stock worth $914,000 after acquiring an additional 45 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Charles River Laboratories International by 4.2% during the 3rd quarter. Empirical Finance LLC now owns 1,310 shares of the medical research company’s stock worth $258,000 after purchasing an additional 53 shares in the last quarter. American Trust raised its position in shares of Charles River Laboratories International by 5.9% during the 2nd quarter. American Trust now owns 976 shares of the medical research company’s stock worth $202,000 after purchasing an additional 54 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in Charles River Laboratories International by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after buying an additional 57 shares in the last quarter. Finally, OLD National Bancorp IN lifted its stake in Charles River Laboratories International by 3.1% in the 3rd quarter. OLD National Bancorp IN now owns 1,988 shares of the medical research company’s stock valued at $392,000 after buying an additional 59 shares in the last quarter. 98.91% of the stock is currently owned by hedge funds and other 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).