Charles River Laboratories Intl. (CRL) Stock Price Up 1.1% After Better-Than-Expected Earnings

Shares of Charles River Laboratories Intl. Inc (NYSE:CRL) rose 1.1% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $138.89 and last traded at $137.70. Approximately 17,159 shares were traded during trading, a decline of 95% from the average daily volume of 372,070 shares. The stock had previously closed at $136.23.

The medical research company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.15. The company had revenue of $585.30 million for the quarter, compared to the consensus estimate of $567.58 million. Charles River Laboratories Intl. had a net margin of 6.38% and a return on equity of 25.26%. Charles River Laboratories Intl.’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 EPS.

CRL has been the topic of a number of research reports. Bank of America lifted their price target on shares of Charles River Laboratories Intl. from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, July 16th. Royal Bank of Canada upgraded shares of Charles River Laboratories Intl. from a “sector perform” rating to an “outperform” rating and set a $131.00 price target on the stock in a report on Tuesday, July 17th. ValuEngine upgraded shares of Charles River Laboratories Intl. from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. Jefferies Financial Group reiterated a “buy” rating and issued a $140.00 price target on shares of Charles River Laboratories Intl. in a report on Friday, July 20th. Finally, SunTrust Banks lifted their price target on shares of Charles River Laboratories Intl. to $135.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $130.56.

In other news, Director Deborah Turner Kochevar sold 4,066 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $123.66, for a total value of $502,801.56. Following the sale, the director now directly owns 10,190 shares in the company, valued at approximately $1,260,095.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David P. Johst sold 23,356 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $136.00, for a total transaction of $3,176,416.00. Following the completion of the sale, the insider now owns 219,849 shares in the company, valued at $29,899,464. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,671 shares of company stock worth $3,829,160. Insiders own 2.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. NumerixS Investment Technologies Inc bought a new stake in shares of Charles River Laboratories Intl. in the 2nd quarter worth about $122,000. Wsfs Capital Management LLC bought a new stake in shares of Charles River Laboratories Intl. in the 2nd quarter worth about $203,000. CIBC Private Wealth Group LLC bought a new stake in shares of Charles River Laboratories Intl. in the 2nd quarter worth about $212,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Charles River Laboratories Intl. in the 2nd quarter worth about $212,000. Finally, Visionary Asset Management Inc. bought a new stake in shares of Charles River Laboratories Intl. in the 2nd quarter worth about $214,000. Hedge funds and other institutional investors own 96.93% of the company’s stock.

The company has a current ratio of 1.72, a quick ratio of 1.48 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $6.01 billion, a P/E ratio of 25.83, a PEG ratio of 1.57 and a beta of 0.74.

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About Charles River Laboratories Intl. (NYSE:CRL)

Charles River Laboratories International, Inc, an early-stage contract research company, provides drug discovery, non-clinical development, and safety testing services worldwide. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing).

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