Charles River Laboratories Intl. (NYSE:CRL) Sets New 52-Week High Following Analyst Upgrade

Shares of Charles River Laboratories Intl. Inc (NYSE:CRL) hit a new 52-week high during mid-day trading on Tuesday after Argus raised their price target on the stock from $190.00 to $235.00. Argus currently has a buy rating on the stock. Charles River Laboratories Intl. traded as high as $226.48 and last traded at $225.38, with a volume of 1485 shares. The stock had previously closed at $220.01.

Several other research firms also recently commented on CRL. UBS Group increased their price objective on shares of Charles River Laboratories Intl. from $200.00 to $236.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Jefferies Financial Group raised shares of Charles River Laboratories Intl. from a “hold” rating to a “buy” rating and increased their price objective for the company from $213.00 to $254.00 in a report on Thursday, September 10th. BofA Securities raised shares of Charles River Laboratories Intl. from a “neutral” rating to a “buy” rating and set a $192.00 price objective for the company in a report on Wednesday, July 1st. Morgan Stanley increased their price objective on shares of Charles River Laboratories Intl. from $175.00 to $245.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Bank of America raised shares of Charles River Laboratories Intl. from a “neutral” rating to a “buy” rating and set a $192.00 price objective for the company in a report on Wednesday, July 1st. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $199.74.

In other Charles River Laboratories Intl. news, VP Birgit Girshick sold 933 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $213.51, for a total value of $199,204.83. Following the completion of the sale, the vice president now owns 22,852 shares of the company’s stock, valued at $4,879,130.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah Turner Kochevar sold 2,319 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $216.24, for a total transaction of $501,460.56. Following the completion of the sale, the director now directly owns 6,728 shares of the company’s stock, valued at approximately $1,454,862.72. The disclosure for this sale can be found here. In the last three months, insiders sold 6,195 shares of company stock valued at $1,345,601. 1.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CRL. SeaBridge Investment Advisors LLC purchased a new position in shares of Charles River Laboratories Intl. during the second quarter worth approximately $35,000. Financial Management Professionals Inc. purchased a new position in shares of Charles River Laboratories Intl. during the second quarter worth approximately $42,000. Private Advisor Group LLC purchased a new position in shares of Charles River Laboratories Intl. during the second quarter worth approximately $45,000. Front Row Advisors LLC increased its position in shares of Charles River Laboratories Intl. by 22.1% during the second quarter. Front Row Advisors LLC now owns 260 shares of the medical research company’s stock worth $45,000 after acquiring an additional 47 shares during the period. Finally, Legacy Wealth Planning LLC purchased a new position in shares of Charles River Laboratories Intl. during the first quarter worth approximately $36,000.

The firm has a market capitalization of $11.03 billion, a PE ratio of 40.88, a price-to-earnings-growth ratio of 2.18 and a beta of 1.19. The stock’s 50-day moving average price is $213.08 and its 200 day moving average price is $172.35. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.70 and a quick ratio of 1.46.

Charles River Laboratories Intl. (NYSE:CRL) last issued its earnings results on Wednesday, August 5th. The medical research company reported $1.58 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.31. The business had revenue of $682.60 million for the quarter, compared to analyst estimates of $638.70 million. Charles River Laboratories Intl. had a net margin of 9.87% and a return on equity of 21.58%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $1.63 earnings per share. Equities research analysts forecast that Charles River Laboratories Intl. Inc will post 7.22 earnings per share for the current fiscal year.

About Charles River Laboratories Intl. (NYSE:CRL)

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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