StockNews.com Downgrades Tootsie Roll Industries (NYSE:TR) to Hold

Tootsie Roll Industries (NYSE:TR) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Tootsie Roll Industries Price Performance

Tootsie Roll Industries stock opened at $29.99 on Friday. Tootsie Roll Industries has a one year low of $28.13 and a one year high of $35.98. The business has a fifty day moving average price of $29.64 and a 200-day moving average price of $31.49. The firm has a market capitalization of $2.14 billion, a P/E ratio of 22.94 and a beta of 0.17.

Tootsie Roll Industries (NYSE:TR) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.22 EPS for the quarter. Tootsie Roll Industries had a return on equity of 11.63% and a net margin of 12.51%. The firm had revenue of $151.46 million during the quarter.

Institutional Investors Weigh In On Tootsie Roll Industries

Large investors have recently added to or reduced their stakes in the company. Trexquant Investment LP increased its holdings in shares of Tootsie Roll Industries by 104.8% in the third quarter. Trexquant Investment LP now owns 18,238 shares of the company’s stock worth $545,000 after buying an additional 9,334 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Tootsie Roll Industries by 6.2% in the third quarter. Qube Research & Technologies Ltd now owns 74,880 shares of the company’s stock worth $2,236,000 after buying an additional 4,394 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Tootsie Roll Industries in the third quarter worth about $338,000. Tudor Investment Corp Et Al increased its holdings in shares of Tootsie Roll Industries by 11.0% in the third quarter. Tudor Investment Corp Et Al now owns 81,182 shares of the company’s stock worth $2,424,000 after buying an additional 8,015 shares during the period. Finally, Headinvest LLC purchased a new position in shares of Tootsie Roll Industries in the third quarter worth about $28,000. Hedge funds and other institutional investors own 14.28% of the company’s stock.

Tootsie Roll Industries Company Profile

Tootsie Roll Industries, Inc, together with its subsidiaries, engages in the manufacture and sale of confectionery products in the United States, Canada, Mexico, and internationally. It sells its products under the Tootsie Roll, Tootsie Fruit Rolls, Frooties, Tootsie Pops, Tootsie Mini Pops, Child's Play, Caramel Apple Pops, Charms, Blow-Pop, Charms Mini Pops, Cella's, Dots, Junior Mints, Charleston Chew, Sugar Daddy, Sugar Babies, Andes, Fluffy Stuff, Dubble Bubble, Razzles, Cry Baby, NIK-L-NIP, and Tutsi Pop trademarks.