Charles River Laboratories Intl. (NYSE:CRL) Receives “Buy” Rating from Argus

Argus restated their buy rating on shares of Charles River Laboratories Intl. (NYSE:CRL) in a research note released on Tuesday morning, 24/7 WallStreet reports. Argus currently has a $170.00 price target on the medical research company’s stock.

CRL has been the topic of a number of other reports. SunTrust Banks increased their price target on Charles River Laboratories Intl. from $156.00 to $162.00 and gave the stock a buy rating in a research report on Monday, September 16th. Bank of America downgraded Charles River Laboratories Intl. from a buy rating to a neutral rating and set a $150.00 price target on the stock. in a report on Friday, October 18th. UBS Group reduced their price objective on Charles River Laboratories Intl. from $147.00 to $145.00 and set a neutral rating for the company in a research report on Thursday, November 7th. ValuEngine downgraded Charles River Laboratories Intl. from a buy rating to a hold rating in a research note on Thursday, August 1st. Finally, Credit Suisse Group set a $138.00 price objective on Charles River Laboratories Intl. and gave the stock a hold rating in a research note on Friday, September 13th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $152.00.

Shares of NYSE:CRL traded up $1.27 during trading on Tuesday, reaching $139.53. 374,316 shares of the company’s stock traded hands, compared to its average volume of 360,384. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.43 and a quick ratio of 1.20. Charles River Laboratories Intl. has a 12 month low of $103.00 and a 12 month high of $149.07. The company has a 50 day moving average of $132.21 and a 200-day moving average of $133.25. The stock has a market capitalization of $6.79 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 2.12 and a beta of 1.08.

Charles River Laboratories Intl. (NYSE:CRL) last issued its earnings results on Wednesday, November 6th. The medical research company reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.05. Charles River Laboratories Intl. had a net margin of 9.14% and a return on equity of 21.52%. The firm had revenue of $668.00 million for the quarter, compared to analysts’ expectations of $674.08 million. During the same quarter last year, the company posted $1.53 earnings per share. Charles River Laboratories Intl.’s revenue was up 14.1% on a year-over-year basis. Equities research analysts predict that Charles River Laboratories Intl. will post 6.55 earnings per share for the current fiscal year.

In related news, VP Birgit Girshick sold 1,499 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $137.23, for a total value of $205,707.77. Following the completion of the transaction, the vice president now owns 25,459 shares in the company, valued at approximately $3,493,738.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Charles River Laboratories Intl. by 1.6% in the 2nd quarter. BlackRock Inc. now owns 4,660,628 shares of the medical research company’s stock valued at $661,344,000 after acquiring an additional 72,827 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Charles River Laboratories Intl. by 7.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,239,921 shares of the medical research company’s stock worth $317,845,000 after acquiring an additional 157,160 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of Charles River Laboratories Intl. by 11.0% during the third quarter. TimesSquare Capital Management LLC now owns 1,007,750 shares of the medical research company’s stock worth $133,396,000 after purchasing an additional 99,900 shares during the period. Bank of New York Mellon Corp raised its position in shares of Charles River Laboratories Intl. by 49.4% during the second quarter. Bank of New York Mellon Corp now owns 978,183 shares of the medical research company’s stock worth $138,804,000 after purchasing an additional 323,625 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Charles River Laboratories Intl. by 5.1% during the second quarter. Bank of America Corp DE now owns 471,966 shares of the medical research company’s stock worth $66,972,000 after purchasing an additional 22,821 shares during the period. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

About Charles River Laboratories Intl.

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates in three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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Analyst Recommendations for Charles River Laboratories Intl. (NYSE:CRL)

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