Argus initiated coverage on shares of Charles River Laboratories International (NYSE:CRL) in a report published on Wednesday morning. The firm issued a buy rating and a $120.00 target price on the medical research company’s stock.

Several other equities research analysts have also issued reports on the stock. SunTrust Banks reiterated a buy rating and issued a $113.00 price target on shares of Charles River Laboratories International in a research note on Friday, November 17th. Zacks Investment Research lowered shares of Charles River Laboratories International from a buy rating to a hold rating in a research note on Monday, November 13th. Robert W. Baird set a $117.00 price objective on shares of Charles River Laboratories International and gave the stock a buy rating in a research note on Monday, November 13th. ValuEngine lowered shares of Charles River Laboratories International from a buy rating to a hold rating in a research note on Friday, November 10th. Finally, Bank of America lowered their price objective on shares of Charles River Laboratories International from $117.00 to $115.00 and set a buy rating on the stock in a research note on Friday, November 10th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $107.65.

Shares of Charles River Laboratories International (CRL) traded up $1.43 during mid-day trading on Wednesday, reaching $106.00. 452,700 shares of the company’s stock traded hands, compared to its average volume of 377,022. The company has a quick ratio of 1.62, a current ratio of 1.88 and a debt-to-equity ratio of 1.13. Charles River Laboratories International has a 12-month low of $73.81 and a 12-month high of $119.05. The firm has a market cap of $4,952.59, a price-to-earnings ratio of 20.54, a P/E/G ratio of 1.67 and a beta of 0.89.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings results on Thursday, November 9th. The medical research company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.08. Charles River Laboratories International had a net margin of 10.72% and a return on equity of 26.58%. The firm had revenue of $464.23 million for the quarter, compared to analyst estimates of $458.93 million. During the same period in the previous year, the business earned $1.18 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. equities analysts expect that Charles River Laboratories International will post 5.13 earnings per share for the current fiscal year.

In related news, insider Bradley Nixon Scharfe sold 1,000,000 shares of Charles River Laboratories International stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $0.27, for a total transaction of $270,000.00. Also, insider Davide Molho sold 6,165 shares of Charles River Laboratories International stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $110.00, for a total transaction of $678,150.00. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 10,500 shares of company stock valued at $2,885 and have sold 1,056,776 shares valued at $2,011,952. Insiders own 2.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its holdings in Charles River Laboratories International by 83.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 41,086 shares of the medical research company’s stock valued at $4,438,000 after purchasing an additional 18,703 shares during the period. GSA Capital Partners LLP boosted its holdings in Charles River Laboratories International by 83.4% in the 3rd quarter. GSA Capital Partners LLP now owns 23,184 shares of the medical research company’s stock valued at $2,504,000 after purchasing an additional 10,544 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Charles River Laboratories International by 56.1% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 22,256 shares of the medical research company’s stock valued at $2,415,000 after purchasing an additional 8,000 shares during the period. California Public Employees Retirement System boosted its holdings in Charles River Laboratories International by 14.8% in the 3rd quarter. California Public Employees Retirement System now owns 78,155 shares of the medical research company’s stock valued at $8,442,000 after purchasing an additional 10,055 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in Charles River Laboratories International in the 3rd quarter valued at about $694,000. 96.27% of the stock is owned by institutional investors and hedge funds.

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About Charles River Laboratories International

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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