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

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

Analysts have set a twelve-month consensus target price of $105.00 for the company and are forecasting that the company will post $1.72 EPS for the current quarter, according to Zacks. Zacks has also assigned Taro Pharmaceutical Industries an industry rank of 59 out of 256 based on the ratings given to related companies.

Several research firms have commented on TARO. Zacks Investment Research raised shares of Taro Pharmaceutical Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 13th. HC Wainwright lowered their target price on shares of Taro Pharmaceutical Industries from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, August 12th.

Taro Pharmaceutical Industries stock traded up $0.81 during trading hours on Friday, hitting $81.08. 64,202 shares of the company traded hands, compared to its average volume of 66,736. The firm has a market cap of $3.15 billion, a P/E ratio of 11.21 and a beta of 0.43. The firm’s 50-day simple moving average is $80.56 and its two-hundred day simple moving average is $92.88. Taro Pharmaceutical Industries has a 1-year low of $75.73 and a 1-year high of $109.42.

Taro Pharmaceutical Industries (NYSE:TARO) last released its earnings results on Thursday, August 8th. The company reported $1.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.96 by ($0.24). The company had revenue of $161.30 million for the quarter, compared to analyst estimates of $169.80 million. Taro Pharmaceutical Industries had a net margin of 41.49% and a return on equity of 13.90%. Analysts anticipate that Taro Pharmaceutical Industries will post 7.33 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in TARO. Renaissance Technologies LLC grew its stake in shares of Taro Pharmaceutical Industries by 29.6% in the 2nd quarter. Renaissance Technologies LLC now owns 552,964 shares of the company’s stock worth $47,234,000 after purchasing an additional 126,164 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Taro Pharmaceutical Industries by 16.8% in the first quarter. Acadian Asset Management LLC now owns 360,414 shares of the company’s stock worth $38,954,000 after acquiring an additional 51,826 shares in the last quarter. AJO LP increased its position in shares of Taro Pharmaceutical Industries by 23.6% in the first quarter. AJO LP now owns 216,550 shares of the company’s stock worth $23,407,000 after acquiring an additional 41,416 shares in the last quarter. Freestone Capital Holdings LLC increased its position in shares of 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. Finally, Dimensional Fund Advisors LP increased its position in shares of Taro Pharmaceutical Industries by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 300,981 shares of the company’s stock worth $25,476,000 after acquiring an additional 31,555 shares in the last quarter. 10.16% of the stock is currently owned by institutional investors.

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.

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