Taylor Devices (NASDAQ:TAYD) Issues Earnings Results, Misses Estimates By $0.28 EPS

Taylor Devices (NASDAQ:TAYD) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.28), FiscalAI reports. Taylor Devices had a return on equity of 15.77% and a net margin of 21.52%.The company had revenue of $8.95 million for the quarter, compared to analyst estimates of $12.80 million.

Taylor Devices Stock Performance

NASDAQ:TAYD opened at $55.35 on Tuesday. The stock’s fifty day moving average is $55.29 and its 200 day moving average is $62.31. The firm has a market capitalization of $178.23 million, a PE ratio of 16.77 and a beta of 0.94. Taylor Devices has a fifty-two week low of $40.50 and a fifty-two week high of $90.37.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TAYD shares. Wall Street Zen cut shares of Taylor Devices from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings raised Taylor Devices from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Taylor Devices has an average rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TAYD. Rhumbline Advisers lifted its stake in shares of Taylor Devices by 24.8% during the first quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 468 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Taylor Devices by 29.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 21,300 shares of the industrial products company’s stock valued at $924,000 after acquiring an additional 4,888 shares during the period. First Trust Advisors LP increased its stake in Taylor Devices by 4.1% in the second quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 399 shares during the period. Ameriprise Financial Inc. bought a new stake in shares of Taylor Devices during the second quarter valued at approximately $4,361,000. Finally, Bank of America Corp DE raised its holdings in Taylor Devices by 16.3% in 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 period. 17.62% of the stock is currently owned by institutional investors and hedge funds.

About Taylor Devices

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.