Taylor Devices (NASDAQ:TAYD) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Taylor Devices (NASDAQ:TAYD) from a strong-buy rating to a hold rating in a report issued on Saturday morning.

Other equities research analysts also recently issued reports about the stock. Freedom Capital downgraded shares of Taylor Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings raised Taylor Devices from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Taylor Devices Price Performance

TAYD opened at $57.47 on Friday. The company has a market cap of $185.00 million, a P/E ratio of 17.42 and a beta of 1.12. The firm’s 50-day moving average price is $77.81 and its 200-day moving average price is $61.35. Taylor Devices has a 52-week low of $29.50 and a 52-week high of $90.37.

Taylor Devices (NASDAQ:TAYD) last released its earnings results on Tuesday, March 31st. The industrial products company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Taylor Devices had a net margin of 21.52% and a return on equity of 15.77%. The company had revenue of $11.17 million during the quarter, compared to analysts’ expectations of $13.18 million.

Hedge Funds Weigh In On Taylor Devices

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in Taylor Devices by 68.2% during the 4th quarter. Royal Bank of Canada now owns 740 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 300 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Taylor Devices by 253.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 727 shares during the period. Rhumbline Advisers increased its stake in shares of Taylor Devices by 24.8% in the first quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 468 shares during the period. Bank of America Corp DE raised its holdings in shares of Taylor Devices by 16.3% during the second quarter. Bank of America Corp DE now owns 2,153 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 301 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of Taylor Devices during the third quarter worth $205,000. Institutional investors and hedge funds own 17.62% of the company’s stock.

Taylor Devices Company Profile

Taylor Devices, Inc is an engineering firm headquartered in North Tonawanda, New York, specializing in the design, development and manufacture of motion control products and engineered fluid-handling devices. The company’s core focus is on providing high-performance hydraulic dampers, fluid springs (also known as gas springs), shock absorbers and hydraulic accumulators that are used to manage energy and motion in a wide range of industrial and structural applications.

The company’s product portfolio includes industrial shock absorbers designed to cushion and decelerate moving parts in manufacturing and test-and-measurement systems, fluid viscous dampers for seismic protection of buildings and bridges, and fluid spring devices that combine the properties of a gas spring and a hydraulic damper.