Charles River Laboratories Intl. (NYSE:CRL) Lifted to Hold at Zacks Investment Research

Charles River Laboratories Intl. (NYSE:CRL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Charles River Laboratories International, Inc. provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Their dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. At Charles River, they are passionate about their role in improving the quality of people’s lives. Their mission, their excellent science and strong sense of purpose guide in all that they do, and they approach each day with the knowledge that their work helps to improve the health and well-being of many across the globe. Charles River Laboratories International, Inc. service areas are Basic research, discovery, safety and efficacy, clinical support and manufacturing. “

CRL has been the topic of several other reports. Leerink Swann initiated coverage on shares of Charles River Laboratories Intl. in a report on Monday, June 10th. They issued an “outperform” rating on the stock. Wolfe Research initiated coverage on shares of Charles River Laboratories Intl. in a report on Tuesday, April 2nd. They issued a “market perform” rating on the stock. Svb Leerink initiated coverage on shares of Charles River Laboratories Intl. in a report on Monday, June 10th. They issued an “outperform” rating and a $155.00 target price on the stock. Finally, Evercore ISI reissued an “outperform” rating and issued a $160.00 target price on shares of Charles River Laboratories Intl. in a report on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Charles River Laboratories Intl. presently has an average rating of “Buy” and an average target price of $147.79.

CRL stock opened at $133.91 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.39 and a debt-to-equity ratio of 1.10. Charles River Laboratories Intl. has a 12 month low of $103.00 and a 12 month high of $149.07. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 1.82 and a beta of 1.10. The firm has a 50-day moving average price of $137.65.

Charles River Laboratories Intl. (NYSE:CRL) last released its earnings results on Wednesday, July 31st. The medical research company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.55 by $0.08. Charles River Laboratories Intl. had a net margin of 9.63% and a return on equity of 23.03%. The firm had revenue of $657.60 million for the quarter, compared to analyst estimates of $662.61 million. During the same period last year, the firm earned $1.62 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts forecast that Charles River Laboratories Intl. will post 6.49 EPS for the current fiscal year.

In related news, insider William D. Barbo sold 4,905 shares of Charles River Laboratories Intl. stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $125.16, for a total transaction of $613,909.80. Following the sale, the insider now directly owns 25,859 shares in the company, valued at approximately $3,236,512.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director George Massaro sold 1,002 shares of Charles River Laboratories Intl. stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $131.38, for a total transaction of $131,642.76. Following the sale, the director now owns 11,204 shares in the company, valued at $1,471,981.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,047 shares of company stock worth $1,168,322. 1.80% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of CRL. Tompkins Financial Corp increased its stake in shares of Charles River Laboratories Intl. by 63.1% in the 1st quarter. Tompkins Financial Corp now owns 199 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 77 shares in the last quarter. Sageworth Trust Co bought a new stake in shares of Charles River Laboratories Intl. in the 1st quarter valued at $37,000. Flagship Harbor Advisors LLC increased its stake in shares of Charles River Laboratories Intl. by 132.1% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 318 shares of the medical research company’s stock valued at $45,000 after acquiring an additional 181 shares in the last quarter. Financial Gravity Wealth Inc. bought a new stake in shares of Charles River Laboratories Intl. in the 1st quarter valued at $59,000. Finally, CWM LLC increased its stake in shares of Charles River Laboratories Intl. by 156.9% in the 1st quarter. CWM LLC now owns 429 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 262 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Charles River Laboratories Intl. Company Profile

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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