Forest Laboratories Given Average Rating of “Hold” by Brokerages (NYSE:FRX)
Forest Laboratories (NYSE:FRX) has been given a consensus recommendation of “Hold” by the seventeen brokerages that are currently covering the stock, AnalystRatingsNetwork reports. Thirteen analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $85.46.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley initiated coverage on shares of Forest Laboratories in a research note on Wednesday, June 18th. They set an “overweight” rating on the stock. Separately, analysts at Zacks downgraded shares of Forest Laboratories from an “outperform” rating to a “neutral” rating in a research note on Friday, June 6th. They now have a $99.00 price target on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Forest Laboratories from $60.00 to $88.00 in a research note on Tuesday, May 27th. They now have a “market perform” rating on the stock.
Shares of Forest Laboratories (NYSE:FRX) opened at 100.14 on Monday. Forest Laboratories has a 52-week low of $40.98 and a 52-week high of $100.88. The stock has a 50-day moving average of $95.19 and a 200-day moving average of $83.74. The company has a market cap of $27.298 billion and a price-to-earnings ratio of 163.56.
Forest Laboratories (NYSE:FRX) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.44. The company had revenue of $1.05 million for the quarter, compared to the consensus estimate of $959.00 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 34.3% on a year-over-year basis. Analysts expect that Forest Laboratories will post $3.64 EPS for the current fiscal year.
Forest Laboratories, Inc (NYSE:FRX) develops, manufactures and sells branded forms of ethical drug products, which requires a physician’s prescription.
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