Charles River Laboratories International Inc. (CRL) Lowered to Hold at Zacks Investment Research

charles-river-laboratories-international-inc-crl-lowered-to-hold-at-zacks-investment-research.png

Charles River Laboratories International Inc. (NYSE:CRL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Charles River Laboratories is a leading provider of critical research tools and integrated support services that enable innovative and efficient drug discovery and development. Charles River is the global leader in providing the animal research models required in research and development for new drugs, devices and therapies and has been in this business for more than 50 years. “
In other Charles River Laboratories International news, Director Richard F. Wallman sold 7,740 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $88.00, for a total transaction of $681,120.00. Following the transaction, the director now owns 24,190 shares in the company, valued at approximately $2,128,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman James C. Foster sold 18,351 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $85.63, for a total value of $1,571,396.13. Following the transaction, the chairman now owns 383,283 shares in the company, valued at approximately $32,820,523.29. The disclosure for this sale can be found here.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/06/charles-river-laboratories-international-inc-crl-lowered-to-hold-at-zacks-investment-research/

Charles River Laboratories International (NYSE:CRL) traded down 4.07% on Tuesday, hitting $80.98. The stock had a trading volume of 917,783 shares. The stock has a 50 day moving average price of $84.79 and a 200 day moving average price of $81.19. The company has a market cap of $3.83 billion and a P/E ratio of 27.36. Charles River Laboratories International has a 1-year low of $59.99 and a 1-year high of $89.18.
Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, August 3rd. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The company earned $434.10 million during the quarter, compared to the consensus estimate of $425.05 million. The company’s revenue was up 27.8% on a year-over-year basis. During the same period last year, the firm posted $0.96 EPS. On average, equities research analysts expect that Charles River Laboratories International will post $4.46 EPS for the current fiscal year.
Several hedge funds and institutional investors have recently bought and sold shares of the company. Arizona State Retirement System increased its position in Charles River Laboratories International by 7.1% in the first quarter. Arizona State Retirement System now owns 25,594 shares of the company’s stock worth $1,944,000 after buying an additional 1,700 shares during the period. Aperio Group LLC increased its position in Charles River Laboratories International by 15.8% in the first quarter. Aperio Group LLC now owns 18,133 shares of the company’s stock worth $1,377,000 after buying an additional 2,470 shares during the period. Renaissance Technologies LLC increased its stake in Charles River Laboratories International by 8.9% in the first quarter. Renaissance Technologies LLC now owns 950,209 shares of the company’s stock valued at $72,159,000 after buying an additional 77,700 shares during the last quarter. State Street Corp increased its stake in Charles River Laboratories International by 3.0% in the first quarter. State Street Corp now owns 1,289,582 shares of the company’s stock valued at $97,928,000 after buying an additional 37,420 shares during the last quarter. Finally, Nisa Investment Advisors L.L.C. increased its stake in Charles River Laboratories International by 5.7% in the first quarter. Nisa Investment Advisors L.L.C. now owns 9,300 shares of the company’s stock valued at $706,000 after buying an additional 500 shares during the last quarter.
A number of other equities research analysts have also weighed in on CRL. Evercore ISI reissued a “hold” rating and issued a $91.50 target price (up previously from $83.50) on shares of Charles River Laboratories International in a research note on Thursday, August 4th. Jefferies Group boosted their target price on Charles River Laboratories International from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Citigroup boosted their target price on Charles River Laboratories International from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, August 4th. Barclays PLC boosted their target price on Charles River Laboratories International from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Friday, May 20th. Finally, KeyCorp reissued a “hold” rating and issued a $77.00 target price on shares of Charles River Laboratories International in a research note on Sunday, May 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $86.21.
Charles River Laboratories International, Inc is a full service, early-stage contract research company. The Company is engaged in the business of providing the research models required in research and development of new drugs, devices and therapies. The Company operates through three segments: Research Models and Services (RMS), which consists of Research Models and Research Model Services; Discovery and Safety Assessment (DSA), which offers discovery and safety assessment services, both regulated and non-regulated, in which it includes both in vivo and in vitro studies, and Manufacturing Support (Manufacturing), which includes Microbial Solutions, Biologics Testing Solutions and Avian Vaccine Services.

Receive News & Ratings for Charles River Laboratories International Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Charles River Laboratories International Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Be the first to comment on "Charles River Laboratories International Inc. (CRL) Lowered to Hold at Zacks Investment Research"

Leave a comment

Your email address will not be published.

*