Charles River Laboratories International (NYSE:CRL) Sees Unusually-High Trading Volume – Here’s Why

Charles River Laboratories International, Inc. (NYSE:CRL) saw strong trading volume on Thursday . 252,621 shares were traded during mid-day trading, a decline of 67% from the previous session’s volume of 758,777 shares.The stock last traded at $162.49 and had previously closed at $173.91.

Analysts Set New Price Targets

Several research firms recently weighed in on CRL. TD Cowen upped their price target on Charles River Laboratories International from $203.00 to $227.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Bank of America cut their target price on 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. Redburn Atlantic started coverage on Charles River Laboratories International in a research note on Monday, October 14th. They issued a “sell” rating and a $151.00 price target for the company. 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. Finally, William Blair reissued an “outperform” rating on shares of Charles River Laboratories International in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $209.00.

Charles River Laboratories International Stock Down 1.2 %

The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.61. The company has a 50 day simple moving average of $190.64 and a two-hundred day simple moving average of $198.44. The firm has a market capitalization of $8.37 billion, a P/E ratio of 20.50, a P/E/G ratio of 6.62 and a beta of 1.38.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.16. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $975.99 million. During the same period in the previous year, the firm posted $2.72 EPS. Charles River Laboratories International’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts predict that Charles River Laboratories International, Inc. will post 10.18 EPS for the current fiscal year.

Insider Activity

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the completion of the transaction, the director now owns 12,386 shares in the company, valued at $2,676,862.32. The trade was a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Charles River Laboratories International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRL. Versant Capital Management Inc grew its holdings in Charles River Laboratories International by 1,071.4% during the 4th quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock worth $30,000 after acquiring an additional 150 shares in the last quarter. Wolff Wiese Magana LLC purchased a new position in shares of Charles River Laboratories International in the 3rd quarter valued at $32,000. Pinnacle Bancorp Inc. lifted its stake in shares of Charles River Laboratories International by 52.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock worth $35,000 after purchasing an additional 65 shares during the last quarter. Assetmark Inc. boosted its position in Charles River Laboratories International by 1,153.3% during the third quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 173 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Charles River Laboratories International in the fourth quarter valued at about $56,000. Institutional investors 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).