Charles River Laboratories International (NYSE:CRL) Shares Gap Up After Earnings Beat

Charles River Laboratories International, Inc. (NYSE:CRL)’s share price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $154.39, but opened at $159.28. Charles River Laboratories International shares last traded at $160.76, with a volume of 152,366 shares changing hands.

The medical research company reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.16. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $983.63 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. Charles River Laboratories International’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 earnings per share.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CRL. TD Cowen raised their price target on Charles River Laboratories International from $203.00 to $227.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. CLSA downgraded shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price for the company. in a report on Monday, November 18th. Morgan Stanley cut their price target on shares of Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. StockNews.com lowered shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group dropped their price objective on Charles River Laboratories International from $220.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $197.64.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc increased its stake in Charles River Laboratories International by 1,071.4% during the 4th quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock worth $30,000 after buying an additional 150 shares during the period. Pinnacle Bancorp Inc. boosted its holdings in Charles River Laboratories International by 52.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 65 shares during the last quarter. Assetmark Inc. grew its stake in Charles River Laboratories International by 1,153.3% during the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 173 shares in the last quarter. Optiver Holding B.V. purchased a new stake in Charles River Laboratories International during the 4th quarter worth approximately $37,000. Finally, GeoWealth Management LLC raised its position in shares of Charles River Laboratories International by 311.5% in the 4th quarter. GeoWealth Management LLC now owns 251 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 190 shares in the last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

Charles River Laboratories International Stock Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.14 and a current ratio of 1.48. The company has a 50 day moving average price of $174.02 and a 200 day moving average price of $188.99. The company has a market capitalization of $8.44 billion, a PE ratio of 20.65, a PEG ratio of 5.91 and a beta of 1.37.

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).