TD Cowen, a leading stock analyst firm, recently initiated coverage of Charles River Laboratories International (NYSE:CRL) with a “market perform” rating and a price target of $212.00 per share. This suggests a potential upside of 7.63% from the current stock price.
On Wednesday, CRL shares opened at $196.98. Over the past year, the stock has traded between a low of $181.22 and a high of $262.00. The company’s 50-day moving average is $206.21, while its 200-day moving average stands at $202.96.
Charles River Laboratories International has a debt-to-equity ratio of 0.82, indicating a sound financial position. Its quick ratio and current ratio are reported to be 1.21 and 1.49 respectively, further demonstrating good liquidity levels. With a market capitalization of $10.10 billion and a P/E ratio of 20.89, the company appears to be well-positioned within its industry.
It is worth noting that several hedge funds have shown interest in CRL recently. Mitsubishi UFJ Trust & Banking Corp increased its holdings by 0.3% during the first quarter, while CIBC Asset Management Inc raised its position in the same period by 6.1%. Deutsche Bank AG also acquired additional shares during the fourth quarter, boosting its stake by 1.7%. These activities indicate considerable confidence in Charles River Laboratories International as an investment option.
In terms of financial performance, Charles River Laboratories International exceeded expectations in its latest quarterly earnings report released on August 9th.The medical research company reported earnings per share (EPS) of $2.69 for the quarter, surpassing analysts’ consensus estimate of $2.63 by $0.06. The net margin was recorded at 11.58%, with a return on equity (ROE) sitting at 18.99%.
Revenues for the quarter reached $1.06 billion, slightly higher than the forecasted $1.05 billion. This represents an 8.9% increase compared to the same period last year when the firm posted EPS of $2.77.
Sell-side analysts are optimistic about the future prospects of Charles River Laboratories International, estimating that it will post EPS of 10.48 for the current fiscal year.
Overall, with a solid financial position, consistent growth, and positive analyst coverage, Charles River Laboratories International appears to be an attractive investment option in today’s market. Investors should carefully consider their own investment goals and conduct thorough research before making any decisions regarding this stock.
Charles River Laboratories International: Analyst Ratings and Insider Activity
Charles River Laboratories International, a leading contract research organization, has recently been the subject of various research reports and analyst ratings. The latest update comes from JPMorgan Chase & Co., which raised its target price on the company’s shares from $225.00 to $250.00. Additionally, JPMorgan gave Charles River Labs an “overweight” rating, indicating a positive outlook for the stock.
The upgrade by JPMorgan follows a previous decision by StockNews.com to elevate Charles River Laboratories International’s rating from “hold” to “buy” in a research note issued earlier this year. However, not all opinions on the company have been as optimistic. Citigroup recently downgraded Charles River Labs from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $225.00.
Despite differing opinions, Bank of America also remains bullish on Charles River Labs, increasing its price objective from $235.00 to $245.00 and maintaining a “buy” rating on the stock.
Overall, four investment analysts have given Charles River Laboratories International a hold rating, while seven rate it as a buy. According to Bloomberg.com, which provides financial data and analytics, the consensus among these analysts is that the stock holds a rating of “Moderate Buy,” with an average price target of $244.55.
In other news related to Charles River Labs, two major insiders recently sold significant amounts of company stock. EVP Joseph W. Laplume sold 700 shares at an average price of $216.52 per share, resulting in a total transaction value of $151,564. Following this sale, Laplume now holds 24,983 shares directly in the company with an estimated value of over $5 million.
Another insider who sold company stock was VP William D. Barbo, who disposed of 5,763 shares at an average price of $217.24 per share, resulting in a total transaction value of $1,251,954. Following this sale, Barbo holds 3,592 shares directly in the company with an estimated value of over $780,000.
These insider transactions were disclosed through filings with the Securities & Exchange Commission (SEC), which provide transparency for investors and the public. The SEC filing can be accessed through the provided hyperlink.
It is worth noting that these recent insider sales are relatively small compared to Charles River Labs’ overall market activity. According to Bloomberg.com, insiders have sold a total of 7,934 shares valued at $1,722,048 during the last quarter alone. However, such insider activity underscores ongoing interest by key individuals within the company regarding their holdings.
As always with investment decisions, it is important for investors to conduct thorough research and consider multiple factors before making any decisions. The recent research reports and analyst ratings provide useful insights into Charles River Laboratories International’s potential performance; however, individual investors should assess their own investment strategies and risk tolerance when evaluating such information.