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

Charles River Laboratories International, Inc. (NYSE:CRL) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $159.65 and last traded at $162.66, with a volume of 49248 shares traded. The stock had previously closed at $163.64.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CRL. Evercore ISI lifted their target price on Charles River Laboratories International from $190.00 to $225.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Bank of America lowered their price objective on shares of Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. CLSA lowered shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 target price for the company. in a research note on Monday, November 18th. The Goldman Sachs Group decreased their price target on shares of Charles River Laboratories International from $220.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, UBS Group reiterated a “neutral” rating and set a $185.00 price objective (down previously from $250.00) on shares of Charles River Laboratories International in a research report on Friday, January 17th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $204.38.

Charles River Laboratories International Stock Performance

The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 6.13 and a beta of 1.38. The firm has a 50-day simple moving average of $184.77 and a two-hundred day simple moving average of $196.03. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61.

Charles River Laboratories International (NYSE:CRL) last posted its earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.16. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $975.99 million. During the same period in the previous year, the company earned $2.72 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Charles River Laboratories International, Inc. will post 10.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 6,621 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $216.12, for a total value of $1,430,930.52. Following the completion of the sale, the director now owns 12,386 shares of the company’s stock, valued at $2,676,862.32. This trade represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Charles River Laboratories International

Large investors have recently made changes to their positions in the company. Public Sector Pension Investment Board lifted its stake in shares of Charles River Laboratories International by 77.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,982 shares of the medical research company’s stock valued at $409,000 after purchasing an additional 867 shares during the period. Cetera Investment Advisers increased its position in shares of Charles River Laboratories International by 2.4% in the 2nd quarter. Cetera Investment Advisers now owns 9,969 shares of the medical research company’s stock valued at $2,059,000 after buying an additional 229 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Charles River Laboratories International during the 2nd quarter worth $5,422,000. American Trust lifted its holdings in Charles River Laboratories International by 5.9% during the second quarter. American Trust now owns 976 shares of the medical research company’s stock worth $202,000 after acquiring an additional 54 shares in the last quarter. Finally, Trust Co of the South bought a new position in Charles River Laboratories International during the third quarter worth about $205,000. Institutional investors and hedge funds own 98.91% of the company’s stock.

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).