Charles River Laboratories International Inc. (NYSE:CRL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $93.00 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 11.64% from the stock’s current price.

According to Zacks, “Charles River Laboratories is a leading provider of critical research tools and integrated support services that enable innovative and efficient drug discovery and development. Charles River is the global leader in providing the animal research models required in research and development for new drugs, devices and therapies and has been in this business for more than 50 years. “

Other equities analysts also recently issued research reports about the stock. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Charles River Laboratories International in a report on Friday, September 30th. Evercore ISI reaffirmed a “hold” rating and issued a $91.50 price objective (up previously from $83.50) on shares of Charles River Laboratories International in a report on Thursday, August 4th. Jefferies Group lifted their price objective on shares of Charles River Laboratories International from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Finally, Citigroup Inc. lifted their price objective on shares of Charles River Laboratories International from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Charles River Laboratories International currently has an average rating of “Hold” and a consensus price target of $85.96.

Charles River Laboratories International (NYSE:CRL) opened at 83.30 on Wednesday. The stock has a 50 day moving average of $82.38 and a 200-day moving average of $82.63. Charles River Laboratories International has a one year low of $61.91 and a one year high of $89.18. The stock has a market cap of $3.94 billion, a P/E ratio of 28.14 and a beta of 1.14.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Charles River Laboratories International had a net margin of 9.49% and a return on equity of 25.18%. The business earned $434.10 million during the quarter, compared to the consensus estimate of $425.05 million. During the same quarter last year, the company earned $0.96 earnings per share. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. Analysts anticipate that Charles River Laboratories International will post $4.46 EPS for the current year.

In related news, Chairman James C. Foster sold 18,351 shares of Charles River Laboratories International stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $85.63, for a total transaction of $1,571,396.13. Following the sale, the chairman now directly owns 383,283 shares in the company, valued at $32,820,523.29. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard F. Wallman sold 7,740 shares of Charles River Laboratories International stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $88.00, for a total transaction of $681,120.00. Following the sale, the director now owns 24,190 shares in the company, valued at $2,128,720. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its stake in shares of Charles River Laboratories International by 559.2% in the third quarter. BNP Paribas Arbitrage SA now owns 170,577 shares of the company’s stock worth $14,216,000 after buying an additional 144,702 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Charles River Laboratories International by 2.9% in the third quarter. Eqis Capital Management Inc. now owns 3,485 shares of the company’s stock valued at $290,000 after buying an additional 98 shares during the period. Nomura Holdings Inc. boosted its stake in shares of Charles River Laboratories International by 313.0% in the second quarter. Nomura Holdings Inc. now owns 39,242 shares of the company’s stock valued at $3,239,000 after buying an additional 29,741 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Charles River Laboratories International by 1.0% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 8,144 shares of the company’s stock valued at $671,000 after buying an additional 84 shares during the period. Finally, Mason Street Advisors LLC acquired a new stake in shares of Charles River Laboratories International during the second quarter valued at approximately $1,774,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc is a full service, early-stage contract research company. The Company is engaged in the business of providing the research models required in research and development of new drugs, devices and therapies. The Company operates through three segments: Research Models and Services (RMS), which consists of Research Models and Research Model Services; Discovery and Safety Assessment (DSA), which offers discovery and safety assessment services, both regulated and non-regulated, in which it includes both in vivo and in vitro studies, and Manufacturing Support (Manufacturing), which includes Microbial Solutions, Biologics Testing Solutions and Avian Vaccine Services.

5 Day Chart for NYSE:CRL

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