Charles River Laboratories (CRL) is Initiated by Credit Suisse to Neutral, Price Target at $84

Charles River Laboratories (CRL) was Initiated by Credit Suisse to “Neutral” and the brokerage firm has set the Price Target at $84. Credit Suisse advised their investors in a research report released on Jun 21, 2016.

Many Wall Street Analysts have commented on Charles River Laboratories. Company shares were Reiterated by Barclays on May 20, 2016 to “Underweight”, Firm has raised the Price Target to $ 65 from a previous price target of $60 .Gabelli & Co Initiated Charles River Laboratories on Apr 26, 2016 to “Buy”, Price Target of the shares are set at $96.

On the company’s financial health, Charles River Laboratories reported $0.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.90. The company had revenue of $354.90 million for the quarter, compared to analysts expectations of $354.81 million. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.

Charles River Laboratories opened for trading at $82.76 and hit $83.62 on the upside on Monday, eventually ending the session at $82.89, with a gain of 0.97% or 0.8 points. The heightened volatility saw the trading volume jump to 2,16,941 shares. Company has a market cap of $3,911 M.

In a different news, on May 25, 2016, John J Crowley (SVP, Chief Accounting Officer) sold 1,913 shares at $85.00 per share price. According to the SEC, on May 16, 2016, Richard F Wallman (director) sold 1,970 shares at $82.34 per share price. On May 10, 2016, George Massaro (director) sold 985 shares at $82.04 per share price, according to the Form-4 filing with the securities and exchange commission.

Charles River Laboratories International Inc. is a full service early stage contract research company. The Company offers research models for the research and development of new drugs devices and therapies. It develops a portfolio of discovery and safety assessment services both Good Laboratory Practice (GLP) and non-GLP that support the clients from target identification through preclinical development. The Company operates through three segments: Research Models and Services (RMS) which supplies research models to the drug development industry; Discovery and Safety Assessment (DSA) which provides services that enables the clients to outsource their drug discovery research critical regulatory-required safety assessment testing and related drug discovery and development activities and Manufacturing Support (Manufacturing) which is involved in the production and release of products manufactured by the clients.

Charles River Laboratories

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