Robert W. Baird Reaffirms Their Buy Rating on Charles River Labs

By Jason Carr

In a report released today, Eric Coldwell from Robert W. Baird reiterated a Buy rating on Charles River Labs (NYSE: CRL), with a price target of $117. The company’s shares opened today at $101.93.

According to TipRanks.com, Coldwell is a 3-star analyst with an average return of 3.8% and a 46.8% success rate. Coldwell covers the Services sector, focusing on stocks such as AmerisourceBergen Corporation, Walgreens Boots Alliance, and Quintiles Transnational.

Charles River Labs has an analyst consensus of Moderate Buy, with a price target consensus of $117.40.

Based on Charles River Labs’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $464 million and quarterly net profit of $52.47 million. In comparison, last year the company earned revenue of $426 million and had a net profit of $37.74 million.

Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock.

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Charles River Laboratories International, Inc. is an early-stage contract research company, which provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and academic institutions around the globe to accelerate their research and drug development efforts. It operates through the following business segments: Research Models and Services, Discovery and Safety Assessment, and Manufacturing Support. The Research Models and Services segment comprises of the production and sale of research models, and also offers services designed to support to clients use of research models in screening drug candidates. The Discovery and Safety Assessment segment offers discovery and safety assessment services, both regulated and non-regulated, in which it include both in vivo and in vitro studies, supporting laboratory services, and strategic preclinical consulting and program management to support product development. The Manufacturing Support segment offers endotoxin and microbial detection, avian vaccine services and biologics testing solutions. The company was founded by Henry L. Foster in 1947 and is headquartered in Wilmington, MA.