Charles River Labs is benefiting from exposure to a couple of hot markets. It’s a leading animal research tools provider. And the company says it provided support for fully 80% of drugs approved by the FDA in the past five years. On Wednesday, the IBD SmartSelect Composite Rating for Charles River Labs International (CRL) rose to a near-perfect 96.
The new score indicates the Wilmington, Mass.-based company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.
Charles River Labs Profit Growth Ranks High
The stock earns a 90 EPS Rating, meaning its recent quarterly and annual earnings growth is outpacing 90% of all stocks.
Its Accumulation/Distribution Rating of A, on an A+ to E scale, shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
The company posted a 38% rise in earnings for Q1, to $2.53. Top line growth climbed 17% to $824.6 million, up from 14% in the prior report. The company has now posted accelerating growth in each of the last three quarters.
Charles River Labs International earns the No. 2 rank among its peers in the Medical-Research Equipment/Services industry group. qvia Holdings (IQV) is the top-ranked stock within the group.
Charles River Labs International is now out of buy range after breaking out from a 303.89 buy point in a flat base. See if it can provide a new buy opportunity such as a three-weeks-tight base or a rebound off its 50-day or 10-week line.
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