Charles River Laboratories International, Inc. (NYSE:CRL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $110.00 price target on the medical research company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.73% from the stock’s previous close.

According to Zacks, “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. “

Other equities analysts have also recently issued research reports about the stock. Barclays PLC restated a “hold” rating and issued a $102.00 price objective on shares of Charles River Laboratories International in a research note on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and issued a $121.00 price objective on shares of Charles River Laboratories International in a research note on Friday, June 30th. Citigroup Inc. restated a “neutral” rating and issued a $104.00 price objective (up previously from $90.00) on shares of Charles River Laboratories International in a research note on Thursday, May 11th. BidaskClub upgraded shares of Charles River Laboratories International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $95.00 price objective (up previously from $89.00) on shares of Charles River Laboratories International in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $96.94.

Shares of Charles River Laboratories International (NYSE:CRL) traded down 1.67% during midday trading on Thursday, hitting $96.72. 653,010 shares of the company were exchanged. Charles River Laboratories International has a one year low of $67.20 and a one year high of $102.32. The stock’s 50-day moving average is $99.95 and its 200-day moving average is $91.50. The stock has a market cap of $4.61 billion, a PE ratio of 28.31 and a beta of 1.02.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings data on Wednesday, August 9th. The medical research company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.07. Charles River Laboratories International had a net margin of 9.28% and a return on equity of 27.46%. The company had revenue of $469.13 million during the quarter, compared to analysts’ expectations of $458.25 million. During the same quarter in the prior year, the company posted $1.20 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Equities research analysts anticipate that Charles River Laboratories International will post $5.10 EPS for the current year.

Charles River Laboratories International announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 10th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the medical research company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

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In related news, Director George Massaro sold 1,130 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $88.30, for a total transaction of $99,779.00. Following the completion of the sale, the director now owns 15,831 shares in the company, valued at approximately $1,397,877.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James C. Foster sold 43,154 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $4,315,400.00. Following the sale, the chairman now owns 361,178 shares of the company’s stock, valued at approximately $36,117,800. The disclosure for this sale can be found here. Insiders have sold a total of 80,499 shares of company stock valued at $7,946,191 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in CRL. Teachers Advisors LLC boosted its stake in shares of Charles River Laboratories International by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 118,195 shares of the medical research company’s stock worth $9,005,000 after buying an additional 788 shares during the period. Peregrine Capital Management LLC purchased a new stake in shares of Charles River Laboratories International during the first quarter worth about $7,971,000. Private Trust Co. NA purchased a new stake in shares of Charles River Laboratories International during the first quarter worth about $473,000. Parametrica Management Ltd purchased a new stake in shares of Charles River Laboratories International during the first quarter worth about $364,000. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Charles River Laboratories International by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 12,000 shares of the medical research company’s stock worth $1,079,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 95.81% of the company’s stock.

About Charles River Laboratories International

Charles River Laboratories International, Inc is an early-stage contract research company. The Company is engaged in laboratory animal medicine and science (research model technologies) and develop a portfolio of discovery and safety assessment services, both good laboratory practice (GLP) and non-GLP, which supports its clients from target identification through non-clinical development.

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Analyst Recommendations for Charles River Laboratories International (NYSE:CRL)

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