Charles River Laboratories International (NYSE:CRL) Shares Gap Up – Here’s What Happened

by · The Markets Daily

Charles River Laboratories International, Inc. (NYSE:CRL – Get Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $197.06, but opened at $202.20. Charles River Laboratories International shares last traded at $201.77, with a volume of 2,396 shares.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRL. Morgan Stanley set a $185.00 price objective on shares of Charles River Laboratories International in a research note on Monday, December 1st. Robert W. Baird upgraded Charles River Laboratories International from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $178.00 to $199.00 in a research report on Thursday, November 6th. Jefferies Financial Group raised Charles River Laboratories International from a “hold” rating to a “buy” rating and raised their price target for the stock from $142.00 to $195.00 in a report on Tuesday, September 9th. TD Cowen lowered their price objective on Charles River Laboratories International from $205.00 to $197.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Finally, Bank of America upgraded Charles River Laboratories International from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Charles River Laboratories International has an average rating of “Moderate Buy” and a consensus target price of $195.93.

Get Our Latest Report on CRL

Charles River Laboratories International Stock Down 0.1%

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.37 and a quick ratio of 1.10. The firm has a market capitalization of $9.99 billion, a P/E ratio of -129.82, a PEG ratio of 6.96 and a beta of 1.63. The firm’s fifty day moving average price is $180.48 and its 200-day moving average price is $166.13.

Charles River Laboratories International (NYSE:CRL – Get Free Report) last announced its earnings results on Wednesday, November 5th. The medical research company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.11. Charles River Laboratories International had a positive return on equity of 15.78% and a negative net margin of 2.07%.The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $990.43 million. During the same quarter last year, the business posted $2.59 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts forecast that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group raised its position in shares of Charles River Laboratories International by 93.5% during the first quarter. Brooklyn Investment Group now owns 178 shares of the medical research company’s stock worth $27,000 after purchasing an additional 86 shares during the period. Cromwell Holdings LLC lifted its stake in Charles River Laboratories International by 542.9% during the second quarter. Cromwell Holdings LLC now owns 180 shares of the medical research company’s stock valued at $27,000 after buying an additional 152 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Charles River Laboratories International in the second quarter worth about $29,000. Rothschild Investment LLC increased its position in shares of Charles River Laboratories International by 82.4% in the third quarter. Rothschild Investment LLC now owns 186 shares of the medical research company’s stock worth $29,000 after acquiring an additional 84 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Charles River Laboratories International in the third quarter worth approximately $31,000. Institutional investors own 98.91% of the company’s stock.

Charles River Laboratories International Company Profile

(Get Free Report)

Charles River Laboratories International, Inc is a leading provider of research models and preclinical and clinical support services for the pharmaceutical, biotechnology and medical device industries. The company’s core offerings include discovery, safety assessment, toxicology, and pathology services, as well as supply of laboratory animals and related diagnostics. Services extend across in vivo and in vitro testing, biologics testing, and support for advanced therapies, helping clients accelerate drug development from early discovery through regulatory submission.

Founded in 1947 in Wilmington, Massachusetts, Charles River has grown through strategic investments and acquisitions to establish a broad portfolio of capabilities.

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