Tootsie Roll Industries (NYSE:TR) Raised to “Buy” at StockNews.com

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

Tootsie Roll Industries Price Performance

Shares of Tootsie Roll Industries stock opened at $28.18 on Friday. Tootsie Roll Industries has a one year low of $28.13 and a one year high of $37.63. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 21.55 and a beta of 0.15. The business has a 50-day simple moving average of $29.56 and a 200 day simple moving average of $31.67.

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

Institutional Investors Weigh In On Tootsie Roll Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its holdings in shares of Tootsie Roll Industries by 3.4% in the first quarter. California State Teachers Retirement System now owns 14,880 shares of the company’s stock worth $477,000 after purchasing an additional 494 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in Tootsie Roll Industries during the first quarter valued at about $345,000. Gabelli Funds LLC boosted its holdings in shares of Tootsie Roll Industries by 2.7% during the first quarter. Gabelli Funds LLC now owns 103,360 shares of the company’s stock worth $3,311,000 after purchasing an additional 2,760 shares during the period. Gamco Investors INC. ET AL boosted its holdings in shares of Tootsie Roll Industries by 3.0% during the first quarter. Gamco Investors INC. ET AL now owns 79,734 shares of the company’s stock worth $2,554,000 after purchasing an additional 2,322 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Tootsie Roll Industries by 3.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 15,423 shares of the company’s stock worth $494,000 after purchasing an additional 448 shares during the period. Institutional investors own 14.28% of the company’s stock.

About Tootsie Roll Industries

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.