Taro Pharmaceutical Industries (TARO) Lowered to “Sell” at ValuEngine

Taro Pharmaceutical Industries (NYSE:TARO) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

A number of other analysts have also weighed in on TARO. Zacks Investment Research lowered shares of Taro Pharmaceutical Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 16th. TheStreet upgraded shares of Taro Pharmaceutical Industries from a “c+” rating to a “b-” rating in a research note on Monday, June 4th. Finally, HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of Taro Pharmaceutical Industries in a research note on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. Taro Pharmaceutical Industries has an average rating of “Hold” and a consensus price target of $124.50.

Shares of TARO stock traded down $0.79 during trading hours on Monday, reaching $98.63. 19,000 shares of the stock were exchanged, compared to its average volume of 65,627. Taro Pharmaceutical Industries has a 12-month low of $93.01 and a 12-month high of $128.46. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 15.96 and a beta of 0.48.

Taro Pharmaceutical Industries (NYSE:TARO) last released its earnings results on Thursday, August 9th. The company reported $1.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.33 by ($0.62). Taro Pharmaceutical Industries had a return on equity of 11.73% and a net margin of 34.18%. The firm had revenue of $154.62 million for the quarter, compared to analysts’ expectations of $179.54 million. sell-side analysts forecast that Taro Pharmaceutical Industries will post 7.65 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Northern Trust Corp increased its stake in Taro Pharmaceutical Industries by 56.2% in the second quarter. Northern Trust Corp now owns 81,294 shares of the company’s stock valued at $9,404,000 after purchasing an additional 29,242 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Taro Pharmaceutical Industries by 73.1% in the second quarter. Bank of New York Mellon Corp now owns 20,109 shares of the company’s stock valued at $2,326,000 after purchasing an additional 8,492 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Taro Pharmaceutical Industries in the second quarter valued at approximately $393,000. California Public Employees Retirement System increased its stake in Taro Pharmaceutical Industries by 7.6% in the second quarter. California Public Employees Retirement System now owns 36,869 shares of the company’s stock valued at $4,265,000 after purchasing an additional 2,611 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in Taro Pharmaceutical Industries in the second quarter valued at approximately $492,000. Institutional investors own 10.40% of the company’s stock.

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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