Charles River Associates (NASDAQ:CRAI) Stock Rating Lowered by Wall Street Zen

Charles River Associates (NASDAQ:CRAI) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research firms have also recently weighed in on CRAI. Barrington Research restated an “outperform” rating and set a $239.00 price objective on shares of Charles River Associates in a research report on Monday, November 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Charles River Associates in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $239.00.

Charles River Associates Stock Performance

Shares of CRAI stock opened at $189.31 on Friday. The company has a market capitalization of $1.24 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. Charles River Associates has a 52-week low of $152.57 and a 52-week high of $214.66. The business’s fifty day moving average is $184.03 and its 200 day moving average is $187.89.

Charles River Associates (NASDAQ:CRAI) last announced its earnings results on Thursday, October 30th. The business services provider reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.26. Charles River Associates had a return on equity of 26.33% and a net margin of 7.74%.The business had revenue of $185.89 million for the quarter, compared to analyst estimates of $179.42 million. On average, sell-side analysts forecast that Charles River Associates will post 7.52 EPS for the current fiscal year.

Insider Buying and Selling at Charles River Associates

In related news, EVP Jonathan D. Yellin sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $174.38, for a total transaction of $305,165.00. Following the completion of the transaction, the executive vice president owned 15,573 shares of the company’s stock, valued at $2,715,619.74. This trade represents a 10.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Charles River Associates

Institutional investors and hedge funds have recently modified their holdings of the company. CSM Advisors LLC purchased a new position in Charles River Associates during the second quarter valued at $4,923,000. Jump Financial LLC increased its holdings in Charles River Associates by 422.5% in the 2nd quarter. Jump Financial LLC now owns 18,950 shares of the business services provider’s stock valued at $3,551,000 after acquiring an additional 15,323 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Charles River Associates by 243.8% in the second quarter. BNP Paribas Financial Markets now owns 11,511 shares of the business services provider’s stock worth $2,157,000 after buying an additional 8,163 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Charles River Associates during the 2nd quarter valued at approximately $1,424,000. Finally, Quantbot Technologies LP grew its stake in shares of Charles River Associates by 259.5% in the 2nd quarter. Quantbot Technologies LP now owns 7,482 shares of the business services provider’s stock worth $1,402,000 after buying an additional 5,401 shares in the last quarter. 84.13% of the stock is currently owned by hedge funds and other institutional investors.

About Charles River Associates

CRA International, Inc, together with its subsidiaries, provides economic, financial, and management consulting services worldwide. It advises clients on economic and financial matters pertaining to litigation and regulatory proceedings; and guides corporations through business strategy and performance-related issues.