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Charles River (CRAI) Stock Rises 6.4% in a Month: Here's How
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CRA International, Inc., which conducts business as Charles River Associates (CRAI - Free Report) , has had an impressive run in the past month. The stock has gained 6.4%, outperforming the 2.6% rally of the industry it belongs to and the 1.4% rise of the Zacks S&P 500 composite.
Reasons for the Upside
Charles River has a diversified business with service offerings across areas of functional expertise, client base and geographical regions. Being proficient in multiple industries helps the company meet varying client needs and offer other innovative services. Further, it gets to know about business strategies adopted across the world.
A multidisciplinary setup enables it to bring experts from all fields under one platform. Diversification in business helps reduce its dependence on any specific market, industry or geographic area. It also increases the company’s ability to adapt to changing conditions.
Commitment to shareholder returns makes CRAI a reliable way for investors to compound wealth over the long term. In 2022, 2021, and 2020, the company repurchased shares worth $27.6 million, $44.9 million and $13.4 million, respectively. It paid $9.58 million, $8.29 million, and $7.50 million as dividends during 2022, 2021 and 2020, respectively.
Charles River's current ratio at the end of third-quarter 2023 was pegged at 1.11, higher than the current ratio of 1.07 reported at the end of the previous quarter. An increasing current ratio is desirable as it indicates that the company may not have problems meeting its short-term debt obligations. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.
Zacks Rank and Stocks to Consider
Charles River currently carries a Zacks Rank #3 (Hold).
Investors interested in the Zacks Business Services sector can consider the following better-ranked stocks:
Gartner (IT - Free Report) : The Zacks Consensus Estimate for Gartner’s 2023 revenues indicates 7.9% growth from the year-ago figure. Its earnings are expected to decline 1.8% year over year. The company beat the consensus estimate in each of the trailing four quarters, with the average surprise being 34.4%.
Broadridge Financial Solutions (BR - Free Report) : The Zacks Consensus Estimate for Broadridge’s fiscal 2024 revenues indicates 7.7% growth from the year-ago figure. Its earnings are expected to grow 10.1% year over year. The company beat the consensus estimate in three of the past four quarters and matched once, with the average surprise being 5.4%.
BR currently carries a Zacks Rank of 2.
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Charles River (CRAI) Stock Rises 6.4% in a Month: Here's How
CRA International, Inc., which conducts business as Charles River Associates (CRAI - Free Report) , has had an impressive run in the past month. The stock has gained 6.4%, outperforming the 2.6% rally of the industry it belongs to and the 1.4% rise of the Zacks S&P 500 composite.
Reasons for the Upside
Charles River has a diversified business with service offerings across areas of functional expertise, client base and geographical regions. Being proficient in multiple industries helps the company meet varying client needs and offer other innovative services. Further, it gets to know about business strategies adopted across the world.
Charles River Associates Price
Charles River Associates price | Charles River Associates Quote
A multidisciplinary setup enables it to bring experts from all fields under one platform. Diversification in business helps reduce its dependence on any specific market, industry or geographic area. It also increases the company’s ability to adapt to changing conditions.
Commitment to shareholder returns makes CRAI a reliable way for investors to compound wealth over the long term. In 2022, 2021, and 2020, the company repurchased shares worth $27.6 million, $44.9 million and $13.4 million, respectively. It paid $9.58 million, $8.29 million, and $7.50 million as dividends during 2022, 2021 and 2020, respectively.
Charles River's current ratio at the end of third-quarter 2023 was pegged at 1.11, higher than the current ratio of 1.07 reported at the end of the previous quarter. An increasing current ratio is desirable as it indicates that the company may not have problems meeting its short-term debt obligations. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.
Zacks Rank and Stocks to Consider
Charles River currently carries a Zacks Rank #3 (Hold).
Investors interested in the Zacks Business Services sector can consider the following better-ranked stocks:
Gartner (IT - Free Report) : The Zacks Consensus Estimate for Gartner’s 2023 revenues indicates 7.9% growth from the year-ago figure. Its earnings are expected to decline 1.8% year over year. The company beat the consensus estimate in each of the trailing four quarters, with the average surprise being 34.4%.
IT carries a Zacks Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Broadridge Financial Solutions (BR - Free Report) : The Zacks Consensus Estimate for Broadridge’s fiscal 2024 revenues indicates 7.7% growth from the year-ago figure. Its earnings are expected to grow 10.1% year over year. The company beat the consensus estimate in three of the past four quarters and matched once, with the average surprise being 5.4%.
BR currently carries a Zacks Rank of 2.