Zacks: Taro Pharmaceutical Industries Ltd. (NYSE:TARO) Receives Consensus Recommendation of “Strong Buy” from Analysts

Taro Pharmaceutical Industries Ltd. (NYSE:TARO) has been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokerages have set a one year consensus price target of $105.00 for the company and are predicting that the company will post $1.72 EPS for the current quarter, according to Zacks. Zacks has also given Taro Pharmaceutical Industries an industry rank of 63 out of 256 based on the ratings given to related companies.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Taro Pharmaceutical Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 13th. TheStreet downgraded Taro Pharmaceutical Industries from a “b-” rating to a “c” rating in a research report on Thursday, May 23rd. ValuEngine downgraded Taro Pharmaceutical Industries from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Finally, HC Wainwright dropped their price objective on Taro Pharmaceutical Industries from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 12th.

TARO stock traded down $1.65 during midday trading on Friday, reaching $80.08. The company’s stock had a trading volume of 2,009 shares, compared to its average volume of 64,219. The stock has a fifty day simple moving average of $80.59 and a two-hundred day simple moving average of $93.12. Taro Pharmaceutical Industries has a 1 year low of $75.73 and a 1 year high of $109.42. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 11.09 and a beta of 0.43.

Taro Pharmaceutical Industries (NYSE:TARO) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.24). Taro Pharmaceutical Industries had a return on equity of 13.90% and a net margin of 41.49%. The firm had revenue of $161.30 million for the quarter, compared to the consensus estimate of $169.80 million. On average, equities research analysts predict that Taro Pharmaceutical Industries will post 7.33 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in Taro Pharmaceutical Industries by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 300,981 shares of the company’s stock valued at $25,476,000 after purchasing an additional 31,555 shares in the last quarter. Strategic Global Advisors LLC boosted its holdings in Taro Pharmaceutical Industries by 1.6% in the second quarter. Strategic Global Advisors LLC now owns 73,431 shares of the company’s stock worth $6,272,000 after acquiring an additional 1,123 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its holdings in Taro Pharmaceutical Industries by 1,357.1% in the second quarter. OMERS ADMINISTRATION Corp now owns 30,600 shares of the company’s stock worth $2,649,000 after acquiring an additional 28,500 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Taro Pharmaceutical Industries in the second quarter worth about $1,083,000. Finally, Freestone Capital Holdings LLC boosted its holdings in Taro Pharmaceutical Industries by 34.3% in the first quarter. Freestone Capital Holdings LLC now owns 129,757 shares of the company’s stock worth $14,025,000 after acquiring an additional 33,130 shares in the last quarter. 10.16% of the stock is currently owned by institutional investors.

Taro Pharmaceutical Industries Company Profile

Taro Pharmaceutical Industries Ltd., a science-based pharmaceutical company, engages in the development, manufacture, and marketing of pharmaceutical products in the United States, Canada, Israel, and internationally. It offers prescription and over-the-counter pharmaceutical products focusing on primary areas, including topical creams and ointments, liquids, capsules, and tablets in the dermatological and topical, cardiovascular, neuropsychiatric, and anti-inflammatory therapeutic categories.

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