Zacks: Analysts Set $110.00 Price Target for Taro Pharmaceutical Industries Ltd. (NYSE:TARO)

Shares of Taro Pharmaceutical Industries Ltd. (NYSE:TARO) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokers have set a twelve-month consensus target price of $110.00 for the company and are expecting that the company will post $1.54 EPS for the current quarter, according to Zacks. Zacks has also given Taro Pharmaceutical Industries an industry rank of 112 out of 255 based on the ratings given to related companies.

A number of research analysts have weighed in on TARO shares. ValuEngine upgraded shares of Taro Pharmaceutical Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. HC Wainwright reiterated a “buy” rating and set a $110.00 price objective (up previously from $105.00) on shares of Taro Pharmaceutical Industries in a research report on Tuesday, November 5th. Finally, Zacks Investment Research upgraded shares of Taro Pharmaceutical Industries from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th.

TARO stock traded down $0.53 during mid-day trading on Friday, reaching $85.55. 32,756 shares of the stock traded hands, compared to its average volume of 42,902. Taro Pharmaceutical Industries has a one year low of $72.97 and a one year high of $109.42. The stock has a market capitalization of $3.29 billion, a PE ratio of 12.12 and a beta of 0.51. The business has a 50-day moving average price of $90.97 and a two-hundred day moving average price of $83.44.

Taro Pharmaceutical Industries (NYSE:TARO) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.72 by ($0.26). Taro Pharmaceutical Industries had a net margin of 40.43% and a return on equity of 14.13%. The firm had revenue of $160.85 million for the quarter, compared to the consensus estimate of $168.60 million. As a group, equities analysts anticipate that Taro Pharmaceutical Industries will post 6.45 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the business. Commonwealth Bank of Australia increased its position in Taro Pharmaceutical Industries by 62.5% during the second quarter. Commonwealth Bank of Australia now owns 1,300 shares of the company’s stock valued at $111,000 after acquiring an additional 500 shares during the last quarter. AE Wealth Management LLC bought a new position in Taro Pharmaceutical Industries during the fourth quarter valued at $202,000. Squarepoint Ops LLC increased its position in Taro Pharmaceutical Industries by 7.2% during the third quarter. Squarepoint Ops LLC now owns 3,306 shares of the company’s stock valued at $249,000 after acquiring an additional 222 shares during the last quarter. Jane Street Group LLC bought a new position in Taro Pharmaceutical Industries during the second quarter valued at $290,000. Finally, Tower Research Capital LLC TRC increased its position in Taro Pharmaceutical Industries by 500.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,810 shares of the company’s stock valued at $325,000 after acquiring an additional 3,176 shares during the last quarter. Institutional investors and hedge funds own 10.49% of the company’s stock.

About Taro Pharmaceutical Industries

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.

Featured Article: Understanding debt-to-equity ratio in fundamental analysis

Get a free copy of the Zacks research report on Taro Pharmaceutical Industries (TARO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Taro Pharmaceutical Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taro Pharmaceutical Industries and related companies with MarketBeat.com's FREE daily email newsletter.