Charles River Laboratories International (NYSE:CRL) Shares Gap Down – Here’s What Happened

Charles River Laboratories International, Inc. (NYSE:CRL)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $177.85, but opened at $163.29. Charles River Laboratories International shares last traded at $169.0570, with a volume of 307,098 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Charles River Laboratories International from a “hold” rating to a “buy” rating and lifted their price target for the stock from $142.00 to $195.00 in a research note on Tuesday, September 9th. JPMorgan Chase & Co. lifted their price target on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Charles River Laboratories International from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 23rd. Citigroup upgraded shares of Charles River Laboratories International from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $150.00 to $200.00 in a research note on Wednesday, July 9th. Finally, Evercore ISI lifted their price target on shares of Charles River Laboratories International from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Charles River Laboratories International presently has an average rating of “Hold” and a consensus target price of $181.29.

Charles River Laboratories International Stock Down 8.0%

The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of -122.90, a PEG ratio of 4.83 and a beta of 1.50. The business’s fifty day moving average price is $167.64 and its 200 day moving average price is $154.35. The company has a current ratio of 1.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, November 5th. The medical research company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.33 by $0.10. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. During the same quarter last year, the company posted $2.59 EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities analysts expect that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Joseph W. Laplume sold 800 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $157.60, for a total value of $126,080.00. Following the completion of the transaction, the executive vice president owned 24,116 shares of the company’s stock, valued at approximately $3,800,681.60. The trade was a 3.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in Charles River Laboratories International by 10.0% in the 3rd quarter. Bessemer Group Inc. now owns 5,036 shares of the medical research company’s stock valued at $788,000 after purchasing an additional 458 shares during the last quarter. Hantz Financial Services Inc. increased its position in Charles River Laboratories International by 11.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 793 shares of the medical research company’s stock worth $124,000 after purchasing an additional 80 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Charles River Laboratories International during the 3rd quarter worth approximately $533,000. Van Berkom & Associates Inc. increased its position in Charles River Laboratories International by 2.0% during the 3rd quarter. Van Berkom & Associates Inc. now owns 496,911 shares of the medical research company’s stock worth $77,747,000 after purchasing an additional 9,962 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in Charles River Laboratories International during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 98.91% of the company’s stock.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).