Charles River Laboratories Downgraded to “Market Perform” at Wells Fargo (CRL)

Charles River Laboratories (NYSE: CRL) was downgraded by equities research analysts at Wells Fargo from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, reports. They currently have a $42.00 price target on the stock. The analysts noted that the move was a valuation call.

Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America initiated coverage on shares of Charles River Laboratories in a research note to investors on Monday, March 18th. They set a “neutral” rating and a $48.00 price target on the stock. Separately, analysts at Jefferies Group upgraded shares of Charles River Laboratories from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, February 19th. They now have a $50.00 price target on the stock, up previously from $41.00. Finally, analysts at ISI Group raised their price target on shares of Charles River Laboratories from $40.50 to $43.00 in a research note to investors on Thursday, February 14th. They now have a “neutral” rating on the stock.

Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Charles River Laboratories currently has a consensus rating of “Buy” and a consensus price target of $46.25.

Shares of Charles River Laboratories (NYSE: CRL) traded down 1.62% during mid-day trading on Wednesday, hitting $44.115. Charles River Laboratories has a one year low of $31.48 and a one year high of $46.90. The stock’s 50-day moving average is currently $42.29. The company has a market cap of $2.126 billion and a P/E ratio of 22.29.

Charles River Laboratories (NYSE: CRL) last announced its earnings results on Wednesday, February 13th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. The company had revenue of $280.10 million for the quarter, compared to the consensus estimate of $280.81 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. Charles River Laboratories has set its FY13 guidance at $2.80-2.90 EPS. Analysts expect that Charles River Laboratories will post $2.86 EPS for the current fiscal year.

Charles River Laboratories International, Inc. (NYSE: CRL) is a global provider of solutions, which accelerate the early-stage drug discovery and development process.

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