Charles River Laboratories International, Inc. (NYSE:CRL – Get Free Report) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 2,660,000 shares, a drop of 19.4% from the March 15th total of 3,300,000 shares. Based on an average trading volume of 1,230,000 shares, the short-interest ratio is presently 2.2 days. Approximately 5.5% of the company’s shares are short sold.
Charles River Laboratories International Stock Performance
CRL stock traded up $1.64 during trading hours on Friday, reaching $105.89. The stock had a trading volume of 1,658,424 shares, compared to its average volume of 893,921. The stock has a 50-day simple moving average of $151.07 and a 200 day simple moving average of $173.87. Charles River Laboratories International has a fifty-two week low of $91.86 and a fifty-two week high of $254.15. The stock has a market capitalization of $5.20 billion, a PE ratio of 705.91, a price-to-earnings-growth ratio of 4.54 and a beta of 1.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.14.
Charles River Laboratories International (NYSE:CRL – Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.16. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.63 million. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 EPS. Analysts predict that Charles River Laboratories International will post 9.36 EPS for the current fiscal year.
Insider Activity
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Charles River Laboratories International during the 3rd quarter worth $601,000. Wilmington Savings Fund Society FSB bought a new position in Charles River Laboratories International during the third quarter worth $59,000. Tidal Investments LLC raised its holdings in Charles River Laboratories International by 37.8% during the third quarter. Tidal Investments LLC now owns 8,452 shares of the medical research company’s stock worth $1,665,000 after buying an additional 2,319 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in Charles River Laboratories International by 5.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 108,715 shares of the medical research company’s stock worth $21,413,000 after acquiring an additional 5,959 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Charles River Laboratories International by 3.6% in the third quarter. Principal Financial Group Inc. now owns 60,501 shares of the medical research company’s stock valued at $11,917,000 after acquiring an additional 2,126 shares in the last quarter. Institutional investors and hedge funds own 98.91% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Barclays cut their target price on Charles River Laboratories International from $160.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Citigroup upgraded shares of Charles River Laboratories International from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $155.00 to $175.00 in a research report on Tuesday, March 4th. Redburn Atlantic raised shares of Charles River Laboratories International from a “sell” rating to a “neutral” rating and set a $188.00 price objective for the company in a research note on Monday, March 3rd. Mizuho decreased their target price on Charles River Laboratories International from $175.00 to $155.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Finally, UBS Group reaffirmed a “neutral” rating and set a $185.00 price objective (down from $250.00) on shares of Charles River Laboratories International in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $182.00.
Read Our Latest Analysis on Charles River Laboratories International
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).
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