Charles River Laboratories Intl. (NYSE:CRL) Stock Rating Lowered by Zacks Investment Research

Charles River Laboratories Intl. (NYSE:CRL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Charles River Laboratories International, Inc. provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Their dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. At Charles River, they are passionate about their role in improving the quality of people’s lives. Their mission, their excellent science and strong sense of purpose guide in all that they do, and they approach each day with the knowledge that their work helps to improve the health and well-being of many across the globe. Charles River Laboratories International, Inc. service areas are Basic research, discovery, safety and efficacy, clinical support and manufacturing. “

Several other equities analysts have also recently commented on the company. Wolfe Research assumed coverage on Iqvia in a research report on Tuesday, April 2nd. They set a “market perform” rating for the company. Svb Leerink assumed coverage on Charles River Laboratories Intl. in a research report on Monday, June 10th. They set an “outperform” rating and a $155.00 target price for the company. Evercore ISI restated an “outperform” rating and set a $160.00 target price on shares of Charles River Laboratories Intl. in a research report on Tuesday, April 30th. Leerink Swann assumed coverage on Charles River Laboratories Intl. in a research report on Monday, June 10th. They set an “outperform” rating for the company. Finally, Barclays restated a “buy” rating and set a $304.00 target price on shares of Adobe in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $146.27.

Charles River Laboratories Intl. stock traded down $1.64 during midday trading on Friday, hitting $134.87. 245,000 shares of the company’s stock were exchanged, compared to its average volume of 382,369. Charles River Laboratories Intl. has a 52-week low of $103.00 and a 52-week high of $149.07. The stock’s 50-day moving average price is $133.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.39 and a current ratio of 1.63. The firm has a market capitalization of $6.73 billion, a P/E ratio of 22.37, a P/E/G ratio of 1.77 and a beta of 1.10.

Charles River Laboratories Intl. (NYSE:CRL) last posted its earnings results on Tuesday, May 7th. The medical research company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. Charles River Laboratories Intl. had a return on equity of 23.03% and a net margin of 9.63%. The business had revenue of $604.57 million during the quarter, compared to analysts’ expectations of $587.65 million. During the same period in the previous year, the business earned $1.29 earnings per share. The firm’s revenue was up 22.4% on a year-over-year basis. As a group, research analysts expect that Charles River Laboratories Intl. will post 6.48 earnings per share for the current year.

In related news, Director George Massaro sold 1,002 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $131.38, for a total transaction of $131,642.76. Following the completion of the sale, the director now directly owns 11,204 shares in the company, valued at approximately $1,471,981.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William D. Barbo sold 4,905 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $125.16, for a total value of $613,909.80. Following the sale, the insider now owns 25,859 shares of the company’s stock, valued at $3,236,512.44. The disclosure for this sale can be found here. Insiders sold a total of 9,047 shares of company stock valued at $1,168,322 over the last quarter. Company insiders own 1.80% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Tompkins Financial Corp boosted its holdings in Charles River Laboratories Intl. by 63.1% during the 1st quarter. Tompkins Financial Corp now owns 199 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 77 shares during the period. Fort L.P. purchased a new stake in Charles River Laboratories Intl. during the 4th quarter valued at about $27,000. Sageworth Trust Co purchased a new stake in Charles River Laboratories Intl. during the 1st quarter valued at about $37,000. Financial Gravity Wealth Inc. purchased a new stake in Charles River Laboratories Intl. during the 1st quarter valued at about $59,000. Finally, CWM LLC boosted its holdings in Charles River Laboratories Intl. by 156.9% during the 1st quarter. CWM LLC now owns 429 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 262 shares during the period. Institutional investors own 94.37% of the company’s stock.

Charles River Laboratories Intl. Company Profile

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates in three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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Analyst Recommendations for Charles River Laboratories Intl. (NYSE:CRL)

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