Charles River Laboratories International (NYSE:CRL) Shares Down 4.9% – Time to Sell?

Charles River Laboratories International, Inc. (NYSE:CRL)’s stock price traded down 4.9% during mid-day trading on Tuesday . The company traded as low as $180.75 and last traded at $185.43. 783,084 shares traded 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.

Wall Street Analyst Weigh In

Several research analysts recently commented on CRL shares. Argus reissued a “hold” rating on shares of Charles River Laboratories International in a research report on Friday, June 28th. Redburn Atlantic began coverage on shares of Charles River Laboratories International in a research note on Monday, October 14th. They issued a “sell” rating and a $151.00 target price for the company. Baird R W lowered shares of Charles River Laboratories International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Barclays decreased their price objective on shares of Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Finally, UBS Group dropped their target price on shares of Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $212.23.

Charles River Laboratories International Stock Performance

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 company has a fifty day moving average of $197.22 and a two-hundred day moving average of $213.02. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 5.11 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL) last announced its earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. As a group, equities research analysts predict that Charles River Laboratories International, Inc. will post 10.01 earnings per share for the current fiscal year.

Charles River Laboratories International announced that its board has authorized a share repurchase plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to purchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Charles River Laboratories International

A number of institutional investors have recently modified their holdings of the stock. Tortoise Investment Management LLC lifted its stake in Charles River Laboratories International by 77.0% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock worth $27,000 after purchasing an additional 57 shares during the last quarter. Wolff Wiese Magana LLC bought a new stake in shares of Charles River Laboratories International during the 3rd quarter worth $32,000. Headlands Technologies LLC acquired a new stake in Charles River Laboratories International in the first quarter valued at about $41,000. Whittier Trust Co. of Nevada Inc. grew its position in Charles River Laboratories International by 219.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock valued at $58,000 after acquiring an additional 193 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its stake in Charles River Laboratories International by 1,072.7% during the first quarter. Sunbelt Securities Inc. now owns 258 shares of the medical research company’s stock worth $70,000 after acquiring an additional 236 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors.

About Charles River Laboratories International

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).