Charles River Laboratories International’s (CRL) “Buy” Rating Reaffirmed at Jefferies Group LLC

Jefferies Group LLC reaffirmed their buy rating on shares of Charles River Laboratories International, Inc. (NYSE:CRL) in a research report released on Tuesday morning. Jefferies Group LLC currently has a $120.00 price objective on the medical research company’s stock.

Several other brokerages have also recently commented on CRL. Robert W. Baird reiterated a buy rating and set a $114.00 target price on shares of Charles River Laboratories International in a research report on Friday, September 1st. BidaskClub upgraded shares of Charles River Laboratories International from a buy rating to a strong-buy rating in a research report on Tuesday, August 22nd. 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. Citigroup Inc. reiterated a neutral rating and set a $104.00 target price (up previously from $91.00) on shares of Charles River Laboratories International in a research report on Wednesday, June 28th. Finally, Barclays PLC reiterated a hold rating and set a $102.00 target price on shares of Charles River Laboratories International in a research report on Wednesday, July 19th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $98.55.

Shares of Charles River Laboratories International (NYSE:CRL) opened at 109.365 on Tuesday. The stock’s 50 day moving average price is $102.17 and its 200 day moving average price is $94.84. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 28.818 and a beta of 0.99. Charles River Laboratories International has a 1-year low of $67.20 and a 1-year high of $109.59.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, August 9th. The medical research company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.22 by $0.07. The company had revenue of $469.13 million during the quarter, compared to analysts’ expectations of $458.25 million. Charles River Laboratories International had a net margin of 10.13% and a return on equity of 27.02%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. Analysts expect that Charles River Laboratories International will post $5.10 EPS for the current year.

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In other news, insider David Ross Smith sold 2,552 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $67.10, for a total value of $171,239.20. Following the completion of the transaction, the insider now owns 11,671 shares of the company’s stock, valued at approximately $783,124.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman James C. Foster sold 43,154 shares of the business’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 361,178 shares of the company’s stock, valued at approximately $36,117,800. The disclosure for this sale can be found here. Insiders sold a total of 79,982 shares of company stock valued at $7,951,868 in the last three months. 2.20% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in CRL. Canada Pension Plan Investment Board grew its holdings in shares of Charles River Laboratories International by 75.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 12,800 shares of the medical research company’s stock valued at $1,151,000 after buying an additional 5,500 shares during the period. Great West Life Assurance Co. Can grew its holdings in shares of Charles River Laboratories International by 6.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 40,025 shares of the medical research company’s stock valued at $3,600,000 after buying an additional 2,570 shares during the period. State Treasurer State of Michigan grew its holdings in shares of Charles River Laboratories International by 0.5% in the 1st quarter. State Treasurer State of Michigan now owns 19,200 shares of the medical research company’s stock valued at $1,727,000 after buying an additional 100 shares during the period. Suntrust Banks Inc. grew its holdings in shares of Charles River Laboratories International by 15.8% in the 1st quarter. Suntrust Banks Inc. now owns 6,624 shares of the medical research company’s stock valued at $594,000 after buying an additional 904 shares during the period. Finally, Comerica Bank grew its holdings in shares of Charles River Laboratories International by 5.1% in the 1st quarter. Comerica Bank now owns 36,844 shares of the medical research company’s stock valued at $3,302,000 after buying an additional 1,803 shares during the period. 95.82% of the stock is owned by institutional investors.

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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