Robert W. Baird Lowers Charles River Laboratories International (NYSE:CRL) Price Target to $190.00

Charles River Laboratories International (NYSE:CRL) had its price target cut by investment analysts at Robert W. Baird from $191.00 to $190.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Robert W. Baird’s price objective would suggest a potential downside of 7.67% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered shares of Charles River Laboratories International from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $270.00 to $205.00 in a report on Thursday, August 8th. Evercore ISI lowered their price objective on shares of Charles River Laboratories International from $265.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Baird R W lowered shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Barclays decreased their target price on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group decreased their target price on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $230.93.

Charles River Laboratories International Trading Down 1.8 %

Shares of Charles River Laboratories International stock opened at $205.79 on Friday. Charles River Laboratories International has a 1 year low of $161.65 and a 1 year high of $275.00. The firm has a market cap of $10.60 billion, a PE ratio of 24.21, a PEG ratio of 3.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. The company has a 50 day simple moving average of $209.34 and a two-hundred day simple moving average of $223.80.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.41. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. Analysts expect that Charles River Laboratories International will post 10.01 earnings per share for the current fiscal year.

Charles River Laboratories International declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase up to 9.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Charles River Laboratories International

Hedge funds and other institutional investors have recently modified their holdings of the business. Tortoise Investment Management LLC grew its position in shares of Charles River Laboratories International by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after buying an additional 57 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Charles River Laboratories International in the 1st quarter worth about $41,000. Brown Brothers Harriman & Co. grew its position in shares of Charles River Laboratories International by 76.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical research company’s stock worth $52,000 after buying an additional 95 shares during the period. Sunbelt Securities Inc. grew its position in shares of Charles River Laboratories International by 1,072.7% in the 1st quarter. Sunbelt Securities Inc. now owns 258 shares of the medical research company’s stock worth $70,000 after buying an additional 236 shares during the period. Finally, Concord Wealth Partners grew its position in shares of Charles River Laboratories International by 362.5% in the 1st quarter. Concord Wealth Partners now owns 259 shares of the medical research company’s stock worth $70,000 after buying an additional 203 shares during the period. 98.91% of the stock is owned by hedge funds and other institutional investors.

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).