Charles River Laboratories International (NYSE:CRL) Sets New 52-Week Low – Here’s Why

Charles River Laboratories International, Inc. (NYSE:CRL) shares hit a new 52-week low during trading on Monday . The company traded as low as $147.69 and last traded at $148.88, with a volume of 99591 shares trading hands. The stock had previously closed at $155.55.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRL. Redburn Atlantic raised shares of Charles River Laboratories International from a “sell” rating to a “neutral” rating and set a $188.00 target price on the stock in a report on Monday, March 3rd. Morgan Stanley dropped their price target on Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price objective on shares of Charles River Laboratories International from $175.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Robert W. Baird decreased their price target on shares of Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Finally, Citigroup upgraded shares of Charles River Laboratories International from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $155.00 to $175.00 in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $189.77.

Charles River Laboratories International Stock Down 4.6 %

The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 988.96, a PEG ratio of 4.54 and a beta of 1.45. The firm’s 50-day moving average price is $164.69 and its 200 day moving average price is $182.60.

Charles River Laboratories International (NYSE:CRL) last issued its earnings results on Wednesday, February 19th. The medical research company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.16. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.63 million. During the same quarter last year, the business posted $2.46 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Insider Activity

In other news, COO Birgit Girshick bought 1,514 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $164.63 per share, with a total value of $249,249.82. Following the transaction, the chief operating officer now owns 55,058 shares of the company’s stock, valued at $9,064,198.54. This trade represents a 2.83 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph W. Laplume sold 4,400 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $162.50, for a total transaction of $715,000.00. Following the completion of the transaction, the executive vice president now owns 20,013 shares in the company, valued at $3,252,112.50. This trade represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Charles River Laboratories International

Several institutional investors have recently added to or reduced their stakes in CRL. Wealth Enhancement Advisory Services LLC increased its stake in shares of Charles River Laboratories International by 3.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,970 shares of the medical research company’s stock valued at $1,102,000 after acquiring an additional 187 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Charles River Laboratories International during the fourth quarter valued at about $3,583,000. Jefferies Financial Group Inc. raised its holdings in shares of Charles River Laboratories International by 226.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 17,802 shares of the medical research company’s stock valued at $3,286,000 after purchasing an additional 12,353 shares during the period. Mackenzie Financial Corp grew its stake in shares of Charles River Laboratories International by 0.6% in the 4th quarter. Mackenzie Financial Corp now owns 977,073 shares of the medical research company’s stock valued at $180,368,000 after buying an additional 5,805 shares during the period. Finally, Forum Financial Management LP increased its position in Charles River Laboratories International by 30.3% in the 4th quarter. Forum Financial Management LP now owns 1,565 shares of the medical research company’s stock valued at $289,000 after buying an additional 364 shares in the last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

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).