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

CRL stock traded down $1.64 on Friday, reaching $134.87. 245,000 shares of the company traded hands, compared to its average volume of 382,369. Charles River Laboratories Intl. has a one year low of $103.00 and a one year high of $149.07. 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 company has a market cap 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. The firm’s fifty day simple moving average is $133.98.

Charles River Laboratories Intl. (NYSE:CRL) last issued its earnings results on Tuesday, May 7th. The medical research company reported $1.40 EPS for the quarter, beating the 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 for the quarter, compared to the consensus estimate of $587.65 million. During the same period last year, the business posted $1.29 EPS. The company’s revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Charles River Laboratories Intl. will post 6.48 earnings per share for the current fiscal year.

In other news, Director George Massaro sold 1,002 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $131.38, for a total value of $131,642.76. Following the transaction, the director now directly owns 11,204 shares in the company, valued at approximately $1,471,981.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William D. Barbo sold 4,905 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $125.16, for a total value of $613,909.80. Following the completion of the transaction, the insider now owns 25,859 shares in the company, valued at $3,236,512.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,047 shares of company stock worth $1,168,322. Company insiders own 1.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Charles River Laboratories Intl. by 9.9% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,882 shares of the medical research company’s stock worth $273,000 after buying an additional 170 shares during the last quarter. Cigna Investments Inc. New purchased a new position in shares of Charles River Laboratories Intl. in the 1st quarter worth $201,000. Stifel Financial Corp boosted its stake in shares of Charles River Laboratories Intl. by 5.8% in the 4th quarter. Stifel Financial Corp now owns 23,935 shares of the medical research company’s stock worth $2,696,000 after buying an additional 1,316 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Charles River Laboratories Intl. by 10.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 57,611 shares of the medical research company’s stock worth $8,368,000 after buying an additional 5,388 shares during the last quarter. Finally, Tompkins Financial Corp boosted its stake in shares of Charles River Laboratories Intl. by 63.1% in the 1st quarter. Tompkins Financial Corp now owns 199 shares of the medical research company’s stock worth $27,000 after buying an additional 77 shares during the last quarter. Hedge funds and other 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).

See Also: Limitations of the P/E Growth ratio

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