JPMorgan Chase & Co. Cuts Charles River Laboratories International (NYSE:CRL) Price Target to $165.00

Charles River Laboratories International (NYSE:CRL) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $175.00 to $165.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.16% from the company’s current price.

Several other research analysts also recently weighed in on the company. Morgan Stanley cut their price target on Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. The Goldman Sachs Group cut their price target 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. Evercore ISI boosted their price target on Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Robert W. Baird cut their price target on Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating for the company in a report on Thursday. Finally, StockNews.com cut shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Charles River Laboratories International currently has a consensus rating of “Hold” and a consensus price target of $195.71.

Charles River Laboratories International Trading Up 0.5 %

Shares of Charles River Laboratories International stock opened at $163.11 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.14. Charles River Laboratories International has a 1 year low of $150.79 and a 1 year high of $275.00. The company has a market capitalization of $8.34 billion, a P/E ratio of 1,087.39, a P/E/G ratio of 6.77 and a beta of 1.37. The business has a 50 day moving average price of $172.84 and a 200 day moving average price of $188.37.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Wednesday, February 19th. The medical research company reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.16. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.63 million. During the same period in the previous year, the firm posted $2.46 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Charles River Laboratories International will post 9.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Joseph W. Laplume sold 4,400 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $162.50, for a total transaction of $715,000.00. Following the completion of the sale, the executive vice president now directly owns 20,013 shares of the company’s stock, valued at approximately $3,252,112.50. This represents a 18.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Birgit Girshick purchased 1,514 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of $164.63 per share, with a total value of $249,249.82. Following the completion of the transaction, the chief operating officer now owns 55,058 shares in the company, valued at $9,064,198.54. This trade represents a 2.83 % increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Charles River Laboratories International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Charles River Laboratories International during the third quarter valued at about $601,000. JPMorgan Chase & Co. grew its stake in shares of Charles River Laboratories International by 21.6% during the third quarter. JPMorgan Chase & Co. now owns 482,745 shares of the medical research company’s stock valued at $95,086,000 after acquiring an additional 85,759 shares in the last quarter. State Street Corp grew its stake in shares of Charles River Laboratories International by 2.0% during the third quarter. State Street Corp now owns 2,130,279 shares of the medical research company’s stock valued at $419,601,000 after acquiring an additional 41,421 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Charles River Laboratories International by 7.6% during the third quarter. Janus Henderson Group PLC now owns 46,018 shares of the medical research company’s stock valued at $9,064,000 after acquiring an additional 3,268 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Charles River Laboratories International during the third quarter valued at about $966,000. 98.91% of the stock is owned by hedge funds and other institutional investors.

About Charles River Laboratories International

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).