Charles River Laboratories International (NYSE:CRL) Trading Down 4.9% – Should You Sell?

Charles River Laboratories International, Inc. (NYSE:CRL)’s stock price traded down 4.9% during trading on Tuesday . The company traded as low as $180.75 and last traded at $185.43. 783,084 shares changed hands during mid-day trading, an increase of 31% from the average session volume of 597,830 shares. The stock had previously closed at $195.04.

Analysts Set New Price Targets

CRL has been the subject of several research analyst reports. Redburn Atlantic initiated coverage on Charles River Laboratories International in a research report on Monday, October 14th. They set a “sell” rating and a $151.00 price objective for the company. Bank of America downgraded shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $215.00 in a research note on Wednesday, October 2nd. The Goldman Sachs Group cut their target price on shares of Charles River Laboratories International from $290.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Evercore ISI downgraded shares of Charles River Laboratories International from an “outperform” rating to an “inline” rating and reduced their price target for the company from $225.00 to $190.00 in a report on Monday, October 7th. Finally, Barclays dropped their price objective on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Charles River Laboratories International has an average rating of “Hold” and a consensus price target of $212.23.

Charles River Laboratories International Stock Performance

The stock has a 50-day moving average of $197.22 and a 200 day moving average of $213.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.58. The firm has a market capitalization of $9.58 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 5.11 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings data on Wednesday, August 7th. The medical research company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.41. Charles River Laboratories International had a net margin of 10.83% and a return on equity of 14.96%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. On average, research analysts anticipate that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current year.

Charles River Laboratories International declared that its board has authorized a stock repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 9.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Charles River Laboratories International by 40.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock valued at $346,821,000 after buying an additional 509,163 shares during the period. Epoch Investment Partners Inc. boosted its stake in Charles River Laboratories International by 2,733.4% in the 1st quarter. Epoch Investment Partners Inc. now owns 247,501 shares of the medical research company’s stock worth $67,060,000 after purchasing an additional 238,766 shares during the period. Marshall Wace LLP increased its holdings in Charles River Laboratories International by 24.6% during the 2nd quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company’s stock worth $170,615,000 after purchasing an additional 163,056 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Charles River Laboratories International in the 2nd quarter valued at about $33,053,000. Finally, Earnest Partners LLC lifted its holdings in shares of Charles River Laboratories International by 12.4% in the second quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock valued at $207,507,000 after purchasing an additional 110,725 shares in the last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

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).