Charles River Laboratories (CRL) was Upgraded by Barclays to ” Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 77 from a previous price target of $65 . Earlier the firm had a rating of “Underweight ” on the company shares. Barclays advised their investors in a research report released on Nov 30, 2016.
Many Wall Street Analysts have commented on Charles River Laboratories. Shares were Downgraded by UBS on Sep 6, 2016 to ” Sell” and Lowered the Price Target to $ 78 from a previous price target of $83 .
On the company’s financial health, Charles River Laboratories reported $1.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $1.13. The company had revenue of $425.70 million for the quarter, compared to analysts expectations of $433.98 million. The company’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.
Charles River Laboratories (CRL) witnessed a volatile trading activity on Tuesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $71.49 and reached the intraday high at $71.86. The bulls started the profit booking and pushed the shares to intraday low of $71.27. The trading session was marked by a volume range of 2,95,068 shares exchanging hands. The 52-week high of the shares is $89.18 and the 52-week low is $65.7. The market cap of the company stands at $3,387 M and there are 4,73,28,587 shares in public circulation.
In a different news, on Nov 29, 2016, C Richard Reese (director) sold 4,539 shares at $71.93 per share price. According to the SEC, on Sep 1, 2016, Davide Molho (Corporate Executive VP) sold 7,877 shares at $84.11 per share price. On Aug 9, 2016, James C Foster (Chairman, President and CEO) sold 3,830 shares at $86.92 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.