Charles River Laboratories (CRL) Receives New Coverage from Analysts at Mitsubishi UFJ Financial Group

Mitsubishi UFJ Financial Group started coverage on shares of Charles River Laboratories (NYSE:CRL) in a research note issued to investors on Friday morning. The brokerage issued a neutral rating and a $115.00 target price on the medical research company’s stock.

Other equities research analysts have also recently issued reports about the stock. TheStreet cut shares of Charles River Laboratories from an a- rating to a c+ rating in a research report on Tuesday, February 13th. ValuEngine cut shares of Charles River Laboratories from a buy rating to a hold rating in a research report on Saturday, April 7th. JPMorgan Chase raised their target price on shares of Charles River Laboratories from $110.00 to $120.00 and gave the stock an overweight rating in a research report on Wednesday, February 14th. SunTrust Banks raised shares of Charles River Laboratories from a hold rating to a buy rating and raised their target price for the stock from $107.66 to $125.00 in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada set a $116.00 target price on shares of Charles River Laboratories and gave the stock a hold rating in a research report on Tuesday, February 13th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $116.71.

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Shares of NYSE:CRL traded down $0.54 on Friday, hitting $105.46. The company had a trading volume of 271,665 shares, compared to its average volume of 277,432. Charles River Laboratories has a 1 year low of $86.66 and a 1 year high of $119.05. The company has a current ratio of 1.78, a quick ratio of 1.54 and a debt-to-equity ratio of 1.06. The stock has a market cap of $5,027.47, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.58 and a beta of 0.68.

Charles River Laboratories (NYSE:CRL) last posted its earnings results on Tuesday, February 13th. The medical research company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.14. Charles River Laboratories had a net margin of 6.64% and a return on equity of 26.14%. The firm had revenue of $478.50 million during the quarter, compared to analysts’ expectations of $475.02 million. During the same period last year, the company posted $1.21 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. equities analysts forecast that Charles River Laboratories will post 5.77 EPS for the current fiscal year.

In related news, insider Birgit Girshick sold 9,893 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $109.10, for a total value of $1,079,326.30. Following the completion of the transaction, the insider now directly owns 26,470 shares in the company, valued at approximately $2,887,877. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen D. Chubb sold 2,872 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $108.70, for a total transaction of $312,186.40. Following the completion of the transaction, the director now owns 36,461 shares of the company’s stock, valued at $3,963,310.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,658 shares of company stock valued at $6,875,393. 2.10% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in Charles River Laboratories during the 3rd quarter valued at about $261,000. Renaissance Technologies LLC increased its stake in Charles River Laboratories by 4.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,398,700 shares of the medical research company’s stock valued at $153,088,000 after purchasing an additional 58,991 shares in the last quarter. Geode Capital Management LLC increased its stake in Charles River Laboratories by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 432,613 shares of the medical research company’s stock valued at $47,349,000 after purchasing an additional 28,456 shares in the last quarter. Wells Fargo & Company MN increased its stake in Charles River Laboratories by 5.9% during the 3rd quarter. Wells Fargo & Company MN now owns 85,889 shares of the medical research company’s stock valued at $9,278,000 after purchasing an additional 4,807 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Charles River Laboratories by 0.8% during the 4th quarter. BlackRock Inc. now owns 4,034,318 shares of the medical research company’s stock valued at $441,557,000 after purchasing an additional 31,676 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

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Charles River Laboratories 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 through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

Analyst Recommendations for Charles River Laboratories (NYSE:CRL)

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