Brokerages Set $115.00 Price Target for Taro Pharmaceutical Industries Ltd. (TARO)

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

Brokerages have set a twelve-month consensus price objective of $115.00 for the company and are anticipating that the company will post $2.57 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Taro Pharmaceutical Industries an industry rank of 77 out of 256 based on the ratings given to related companies.

Several research firms recently weighed in on TARO. TheStreet downgraded Taro Pharmaceutical Industries from a “b-” rating to a “c” rating in a report on Thursday, May 23rd. ValuEngine downgraded Taro Pharmaceutical Industries from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Finally, Zacks Investment Research downgraded Taro Pharmaceutical Industries from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd.

Institutional investors have recently made changes to their positions in the business. Enterprise Financial Services Corp bought a new position in Taro Pharmaceutical Industries in the first quarter worth about $44,000. WESPAC Advisors SoCal LLC bought a new position in Taro Pharmaceutical Industries in the fourth quarter worth about $53,000. Quantamental Technologies LLC bought a new position in Taro Pharmaceutical Industries in the fourth quarter worth about $110,000. Wells Fargo & Company MN raised its holdings in Taro Pharmaceutical Industries by 209.9% in the first quarter. Wells Fargo & Company MN now owns 1,782 shares of the company’s stock worth $192,000 after purchasing an additional 1,207 shares in the last quarter. Finally, American National Insurance Co. TX bought a new position in Taro Pharmaceutical Industries in the first quarter worth about $224,000. Institutional investors and hedge funds own 9.81% of the company’s stock.

Shares of TARO stock traded down $1.25 on Friday, hitting $91.50. The stock had a trading volume of 2,844 shares, compared to its average volume of 73,643. The company has a market capitalization of $3.75 billion, a P/E ratio of 12.64 and a beta of 0.63. Taro Pharmaceutical Industries has a one year low of $76.93 and a one year high of $121.05.

Taro Pharmaceutical Industries (NYSE:TARO) last released its quarterly earnings data on Wednesday, May 22nd. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.74). The firm had revenue of $179.92 million during the quarter, compared to the consensus estimate of $189.90 million. Taro Pharmaceutical Industries had a net margin of 42.06% and a return on equity of 13.44%. On average, analysts predict that Taro Pharmaceutical Industries will post 11 EPS for the current year.

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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