JPMorgan Chase & Co. Issues Pessimistic Forecast for Charles River Laboratories International (NYSE:CRL) Stock Price

Charles River Laboratories International (NYSE:CRL) had its target price decreased by research analysts at JPMorgan Chase & Co. from $215.00 to $175.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 8.20% from the stock’s current price.

A number of other brokerages also recently weighed in on CRL. Evercore ISI boosted their target price on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. The Goldman Sachs Group dropped their target price on shares of Charles River Laboratories International from $220.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Bank of America reduced their price target on Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Redburn Atlantic initiated coverage on Charles River Laboratories International in a research note on Monday, October 14th. They issued a “sell” rating and a $151.00 price objective on the stock. Finally, StockNews.com downgraded Charles River Laboratories International from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $202.08.

Charles River Laboratories International Trading Down 1.8 %

CRL stock traded down $3.03 during midday trading on Monday, hitting $161.73. 354,802 shares of the company’s stock were exchanged, compared to its average volume of 913,782. Charles River Laboratories International has a one year low of $159.65 and a one year high of $275.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.14 and a current ratio of 1.48. The company has a market cap of $8.27 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 6.25 and a beta of 1.37. The stock’s fifty day moving average price is $184.15 and its 200-day moving average price is $195.26.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.72 EPS. Research analysts predict that Charles River Laboratories International will post 10.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 6,621 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $216.12, for a total value of $1,430,930.52. Following the completion of the transaction, the director now directly owns 12,386 shares in the company, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised its stake in Charles River Laboratories International by 1,071.4% during the 4th quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock worth $30,000 after buying an additional 150 shares during the period. Wolff Wiese Magana LLC bought a new stake in shares of Charles River Laboratories International during the third quarter valued at approximately $32,000. Pinnacle Bancorp Inc. raised its position in shares of Charles River Laboratories International by 52.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock worth $35,000 after purchasing an additional 65 shares during the period. Assetmark Inc. lifted its holdings in shares of Charles River Laboratories International by 1,153.3% in the 3rd quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock worth $37,000 after purchasing an additional 173 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in Charles River Laboratories International in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 98.91% of the company’s stock.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).