Charles River Laboratories (CRL) is Downgraded by UBS to Sell, Lowers Price Target to $ 78

Charles River Laboratories (CRL) was Downgraded by UBS to ” Sell” while Lowering the Price Target of the company shares to $ 78 from a previous price target of $83 . Earlier the firm had a rating of “Neutral ” on the company shares. UBS advised their investors in a research report released on Sep 6, 2016.

Many Wall Street Analysts have commented on Charles River Laboratories. Credit Suisse Initiated Charles River Laboratories on Jun 21, 2016 to “Neutral”, Price Target of the shares are set at $84.

On the company’s financial health, Charles River Laboratories reported $1.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $1.10. The company had revenue of $434.10 million for the quarter, compared to analysts expectations of $424.98 million. The company’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS.

Charles River Laboratories opened for trading at $83.3 and hit $83.88 on the upside on Thursday, eventually ending the session at $83.6, with a gain of 0.47% or 0.39 points. The heightened volatility saw the trading volume jump to 1,89,679 shares. Company has a market cap of $3,954 M.

In a different news, on Sep 1, 2016, Davide Molho (Corporate Executive VP) sold 7,877 shares at $84.11 per share price. According to the SEC, on Aug 9, 2016, James C Foster (Chairman, President and CEO) sold 3,830 shares at $86.92 per share price. On Aug 1, 2016, Richard F Wallman (director) sold 7,740 shares at $88.00 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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Charles River Laboratories - Is it time to Sell?

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