Charles River Laboratories International, Inc. (NYSE:CRL) Short Interest Up 7.1% in October

Charles River Laboratories International, Inc. (NYSE:CRL) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 2,110,000 shares, an increase of 7.1% from the September 30th total of 1,970,000 shares. Based on an average trading volume of 744,300 shares, the short-interest ratio is currently 2.8 days.

Charles River Laboratories International Stock Up 1.2 %

NYSE CRL traded up $2.16 on Friday, hitting $180.74. The stock had a trading volume of 566,272 shares, compared to its average volume of 604,367. The business’s fifty day moving average price is $194.66 and its 200 day moving average price is $210.05. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.58 and a quick ratio of 1.21. Charles River Laboratories International has a 52-week low of $166.87 and a 52-week high of $275.00. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 6.22 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, August 7th. The medical research company reported $2.80 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Equities research analysts anticipate that Charles River Laboratories International will post 10.01 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CRL shares. UBS Group decreased their price objective on shares of Charles River Laboratories International from $290.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Robert W. Baird decreased their price target on shares of Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Evercore ISI downgraded shares of Charles River Laboratories International from an “outperform” rating to an “inline” rating and decreased their price target for the company from $225.00 to $190.00 in a research note on Monday, October 7th. Barclays decreased their price target 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 note on Thursday, August 8th. Finally, TD Cowen decreased their price target on shares of Charles River Laboratories International from $228.00 to $203.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Charles River Laboratories International currently has an average rating of “Hold” and a consensus target price of $209.00.

Institutional Investors Weigh In On Charles River Laboratories International

A number of large investors have recently made changes to their positions in the stock. Tortoise Investment Management LLC lifted its stake in Charles River Laboratories International by 77.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the medical research company’s stock valued at $27,000 after buying an additional 57 shares in the last quarter. Wolff Wiese Magana LLC purchased a new position in Charles River Laboratories International in the 3rd quarter worth approximately $32,000. Headlands Technologies LLC purchased a new position in Charles River Laboratories International in the 1st quarter worth approximately $41,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Charles River Laboratories International by 219.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 281 shares of the medical research company’s stock worth $58,000 after purchasing an additional 193 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Charles River Laboratories International in the 3rd quarter worth approximately $79,000. 98.91% of the stock is owned by hedge funds and other institutional investors.

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).