Charles River Laboratories International (NYSE:CRL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Charles River Laboratories International (NYSE:CRL) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $160.00 to $165.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 3.41% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Citigroup upgraded shares of Charles River Laboratories International from a “neutral” rating to a “buy” rating and boosted their target price for the company from $150.00 to $200.00 in a research note on Wednesday, July 9th. Evercore ISI boosted their target price on shares of Charles River Laboratories International from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Mizuho boosted their target price on shares of Charles River Laboratories International from $155.00 to $174.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. William Blair upgraded shares of Charles River Laboratories International from a “market perform” rating to an “outperform” rating in a research note on Monday, October 6th. Finally, Jefferies Financial Group upgraded shares of Charles River Laboratories International from a “hold” rating to a “buy” rating and boosted their target price for the company from $142.00 to $195.00 in a research note on Tuesday, September 9th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $186.93.

Charles River Laboratories International Stock Up 1.9%

Shares of NYSE CRL traded up $3.12 during trading hours on Thursday, hitting $170.82. 1,905,479 shares of the stock were exchanged, compared to its average volume of 1,199,527. The company has a market cap of $8.41 billion, a PE ratio of -128.44, a PEG ratio of 4.83 and a beta of 1.53. Charles River Laboratories International has a 12 month low of $91.86 and a 12 month high of $222.10. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.69. The firm has a fifty day moving average price of $167.75 and a 200-day moving average price of $154.44.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, November 5th. The medical research company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.11. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $990.43 million. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. Charles River Laboratories International’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.59 EPS. On average, sell-side analysts expect that Charles River Laboratories International will post 9.36 EPS for the current year.

Insider Activity

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $157.60, for a total transaction 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 $3,800,681.60. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Charles River Laboratories International by 6.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,926 shares of the medical research company’s stock valued at $290,000 after purchasing an additional 123 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Charles River Laboratories International in the first quarter valued at approximately $1,231,000. Concurrent Investment Advisors LLC purchased a new position in Charles River Laboratories International in the first quarter worth approximately $213,000. MainStreet Investment Advisors LLC lifted its stake in Charles River Laboratories International by 41.3% in the first quarter. MainStreet Investment Advisors LLC now owns 2,465 shares of the medical research company’s stock worth $371,000 after acquiring an additional 720 shares during the last quarter. Finally, Laurus Global Equity Management Inc. lifted its stake in Charles River Laboratories International by 13.9% in the first quarter. Laurus Global Equity Management Inc. now owns 90,180 shares of the medical research company’s stock worth $13,574,000 after acquiring an additional 11,030 shares during the last quarter. Hedge funds and other institutional investors 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).