Charles River Laboratories International (NYSE:CRL) Sees Large Volume Increase – Still a Buy?

Charles River Laboratories International, Inc. (NYSE:CRL) shares saw unusually-high trading volume on Thursday . Approximately 252,621 shares changed hands during trading, a decline of 67% from the previous session’s volume of 758,777 shares.The stock last traded at $162.49 and had previously closed at $173.91.

Analyst Ratings Changes

CRL has been the topic of several recent analyst reports. Evercore ISI boosted their target price on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Redburn Atlantic initiated coverage on shares of Charles River Laboratories International in a research note on Monday, October 14th. They set a “sell” rating and a $151.00 target price on the stock. UBS Group boosted their target price on shares of Charles River Laboratories International from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. CLSA downgraded shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price on the stock. in a research note on Monday, November 18th. Finally, Bank of America lowered their price target on shares of Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $214.00.

Charles River Laboratories International Price Performance

The stock has a market capitalization of $8.44 billion, a P/E ratio of 20.70, a PEG ratio of 6.62 and a beta of 1.38. The stock’s fifty day moving average is $192.56 and its 200-day moving average is $198.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.48 and a quick ratio of 1.14.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) 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 analysts’ expectations of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. Charles River Laboratories International’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.72 earnings per share. On average, equities analysts anticipate that Charles River Laboratories International, Inc. will post 10.18 earnings per share for the current year.

Insiders Place Their Bets

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the completion of the transaction, the director now owns 12,386 shares of the company’s stock, valued at $2,676,862.32. The trade was a 34.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of Charles River Laboratories International by 1,071.4% during the fourth quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock valued at $30,000 after buying an additional 150 shares during the last quarter. Wolff Wiese Magana LLC acquired a new position in shares of Charles River Laboratories International during the third quarter valued at about $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 valued at $35,000 after buying an additional 65 shares during the last quarter. Assetmark Inc. raised its position in shares of Charles River Laboratories International by 1,153.3% during the third quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock valued at $37,000 after buying an additional 173 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Charles River Laboratories International during the fourth quarter valued at about $56,000. Institutional investors and hedge funds own 98.91% of the company’s stock.

About Charles River Laboratories International

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).