November 30, 2016 - By Louis Casey
Charles River (NYSE:CRL)‘s “Underweight” rating is no longer valid. The firm rating was increased by expert analysts at Barclays to a “Equal Weight”. They have a target price of $77 on CRL.
Out of 10 analysts covering Charles River Laboratories (NYSE:CRL), 4 rate it a “Buy”, 3 “Sell”, while 3 “Hold”. This means 40% are positive. $100 is the highest target while $65 is the lowest. The $82.88 average target is 16.65% above today’s ($71.05) stock price. Charles River Laboratories has been the topic of 18 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating by UBS given on Tuesday, September 6. The company was initiated on Tuesday, June 21 by Credit Suisse. Robert W. Baird maintained the stock with “Outperform” rating in Friday, January 8 report. The rating was reinitiated by Credit Suisse on Friday, August 14 with “Neutral”. The stock has “Hold” rating given by Deutsche Bank on Friday, July 31. On Tuesday, April 26 the stock rating was initiated by Gabelli with “Buy”. As per Friday, August 28, the company rating was maintained by William Blair. Wells Fargo upgraded the stock to “Outperform” rating in Thursday, January 7 report. The firm has “Buy” rating given on Thursday, August 4 by Jefferies. The firm earned “Market Perform” rating on Monday, October 12 by Wells Fargo.
About 444,916 shares traded hands. Charles River Laboratories Intl. Inc (NYSE:CRL) has declined 12.23% since April 27, 2016 and is downtrending. It has underperformed by 17.46% the S&P500.
Analysts await Charles River Laboratories Intl. Inc (NYSE:CRL) to report earnings on February, 8. They expect $1.12 earnings per share, up 12.00% or $0.12 from last year’s $1 per share. CRL’s profit will be $52.97M for 15.86 P/E if the $1.12 EPS becomes a reality. After $1.18 actual earnings per share reported by Charles River Laboratories Intl. Inc for the previous quarter, Wall Street now forecasts -5.08% negative EPS growth.
Insitutional Activity: The institutional sentiment decreased to 0.95 in Q2 2016. Its down 0.48, from 1.43 in 2016Q1. The ratio dropped, as 25 funds sold all Charles River Laboratories Intl. Inc shares owned while 81 reduced positions. 39 funds bought stakes while 113 increased positions. They now own 44.08 million shares or 4.37% less from 46.09 million shares in 2016Q1.
Moreover, Creative Planning has 0% invested in Charles River Laboratories Intl. Inc (NYSE:CRL) for 6 shares. Voya Mgmt Ltd Liability Company owns 451,816 shares or 0.09% of their US portfolio. New York Life Tru owns 1,068 shares or 0.43% of their US portfolio. Acadian Asset Mngmt Ltd Com holds 0.73% of its portfolio in Charles River Laboratories Intl. Inc (NYSE:CRL) for 1.73 million shares. Clarivest Asset Mgmt Ltd Liability Com accumulated 48,123 shares or 0.12% of the stock. Blackrock, a Delaware-based fund reported 25,815 shares. Zacks Investment Mngmt last reported 11,444 shares in the company. The Switzerland-based Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in Charles River Laboratories Intl. Inc (NYSE:CRL). Oakbrook Lc reported 4,892 shares or 0.02% of all its holdings. Renaissance Ltd Liability, a New York-based fund reported 780,109 shares. The New York-based Blackrock Inc has invested 0.01% in Charles River Laboratories Intl. Inc (NYSE:CRL). California Pub Employees Retirement accumulated 88,900 shares or 0.01% of the stock. Pembroke Management Limited owns 317,435 shares or 2.39% of their US portfolio. Brc Investment Management Limited Liability Co last reported 0.12% of its portfolio in the stock. Endurant L P has invested 1.1% of its portfolio in Charles River Laboratories Intl. Inc (NYSE:CRL).
Insider Transactions: Since July 1, 2016, the stock had 0 insider purchases, and 7 selling transactions for $4.75 million net activity. 4,539 Charles River Laboratories Intl. Inc (NYSE:CRL) shares with value of $326,485 were sold by REESE C RICHARD. FOSTER JAMES C also sold $1.13M worth of Charles River Laboratories Intl. Inc (NYSE:CRL) on Friday, August 5. 3,740 shares were sold by MASSARO GEORGE, worth $310,750. 7,740 shares with value of $681,120 were sold by WALLMAN RICHARD F on Friday, July 29. On Tuesday, August 30 Molho Davide sold $662,446 worth of the stock or 7,877 shares.
Charles River Laboratories International, Inc. is a full service, early-stage contract research company. The company has a market cap of $3.36 billion. The Firm is engaged in the business of providing the research models required in research and development of new drugs, devices and therapies. It has a 23.85 P/E ratio. The Firm operates through three divisions: Research Models and Services , which consists of Research Models and Research Model Services; Discovery and Safety Assessment (DSA), which offers discovery and safety assessment services, both regulated and non-regulated, in which it includes both in vivo and in vitro studies, and Manufacturing Support (Manufacturing), which includes Microbial Solutions, Biologics Testing Solutions and Avian Vaccine Services.
According to Zacks Investment Research, “Charles River Laboratories is a leading provider of critical research tools and integrated support services that enable innovative and efficient drug discovery and development. Charles River is the global leader in providing the animal research models required in research and development for new drugs, devices and therapies and has been in this business for more than 50 years.”
Charles River Laboratories International, Inc., incorporated on February 3, 1994, is a full service, early-stage contract research company. The Firm is engaged in the business of providing the research models required in research and development of new drugs, devices and therapies. The Firm operates through three divisions: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing). It develops a portfolio of discovery and safety assessment services, both Good Laboratory Practice (GLP) and non-GLP, which is able to support its clients from target identification through preclinical development. It also provides a suite of services and products to support its clients’ manufacturing activities.
Another recent and important Charles River Laboratories Intl. Inc (NYSE:CRL) news was published by Benzinga.com which published an article titled: “Benzinga’s Top Upgrades” on November 30, 2016.
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By Louis Casey