BidaskClub downgraded shares of Charles River Laboratories International, Inc. (NYSE:CRL) from a strong-buy rating to a buy rating in a report published on Monday morning.

A number of other brokerages have also recently weighed in on CRL. Zacks Investment Research cut shares of Charles River Laboratories International from a buy rating to a hold rating in a research report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a buy rating and set a $106.00 price target on shares of Charles River Laboratories International in a research report on Friday, April 21st. Citigroup Inc. reaffirmed a neutral rating and set a $104.00 price target (up from $90.00) on shares of Charles River Laboratories International in a research report on Thursday, May 11th. Barclays PLC reaffirmed a hold rating and set a $102.00 price target on shares of Charles River Laboratories International in a research report on Wednesday, July 19th. Finally, Credit Suisse Group reaffirmed a neutral rating and set a $95.00 price target (up from $89.00) on shares of Charles River Laboratories International in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $97.06.

Charles River Laboratories International (CRL) traded down 0.16% during midday trading on Monday, hitting $99.34. 170,890 shares of the stock were exchanged. The firm has a 50 day moving average of $99.43 and a 200-day moving average of $90.83. Charles River Laboratories International has a 12-month low of $67.20 and a 12-month high of $102.32. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 29.07 and a beta of 1.02.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, May 10th. The medical research company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.15. Charles River Laboratories International had a net margin of 9.28% and a return on equity of 27.46%. The business had revenue of $445.80 million for the quarter, compared to analysts’ expectations of $437.04 million. During the same period last year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. On average, equities analysts expect that Charles River Laboratories International will post $5.10 earnings per share for the current year.

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Charles River Laboratories International announced that its board has initiated a share repurchase plan on Wednesday, May 10th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

In other news, Chairman James C. Foster sold 9,516 shares of Charles River Laboratories International stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $98.92, for a total transaction of $941,322.72. Following the sale, the chairman now owns 361,171 shares in the company, valued at $35,727,035.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James C. Foster sold 43,154 shares of Charles River Laboratories International stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total transaction of $4,315,400.00. Following the sale, the chairman now owns 361,178 shares in the company, valued at approximately $36,117,800. The disclosure for this sale can be found here. Insiders have sold 80,499 shares of company stock worth $7,946,191 in the last quarter. Insiders own 2.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its stake in Charles River Laboratories International by 41.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,785 shares of the medical research company’s stock worth $135,000 after buying an additional 526 shares in the last quarter. Cambridge Advisors Inc. purchased a new stake in Charles River Laboratories International during the second quarter worth about $202,000. Advisor Partners LLC purchased a new stake in Charles River Laboratories International during the second quarter worth about $208,000. Campbell & CO Investment Adviser LLC purchased a new stake in Charles River Laboratories International during the second quarter worth about $217,000. Finally, MAI Capital Management purchased a new stake in Charles River Laboratories International during the first quarter worth about $224,000. Institutional investors own 96.16% of the company’s stock.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc is an early-stage contract research company. The Company is engaged in laboratory animal medicine and science (research model technologies) and develop a portfolio of discovery and safety assessment services, both good laboratory practice (GLP) and non-GLP, which supports its clients from target identification through non-clinical development.

Analyst Recommendations for Charles River Laboratories International (NYSE:CRL)

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