Taylor Devices (NASDAQ:TAYD) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Taylor Devices, Inc. (NASDAQ:TAYD) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $59.35 and traded as low as $59.05. Taylor Devices shares last traded at $59.29, with a volume of 35,910 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Freedom Broker upgraded Taylor Devices from a “hold” rating to a “buy” rating and lifted their price objective for the company from $67.00 to $70.00 in a research report on Thursday, August 20th. Weiss Ratings cut Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Wall Street Zen cut Taylor Devices from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Freedom Capital upgraded shares of Taylor Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Taylor Devices has an average rating of “Buy” and a consensus price target of $70.00.

Taylor Devices Trading Up 1.0%

The firm has a fifty day simple moving average of $56.55 and a 200-day simple moving average of $59.16. The stock has a market cap of $192.91 million, a price-to-earnings ratio of 22.78 and a beta of 0.96.

Taylor Devices (NASDAQ:TAYD) last released its earnings results on Tuesday, August 18th. The industrial products company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.28). The firm had revenue of $8.95 million during the quarter, compared to analyst estimates of $12.80 million. Taylor Devices had a net margin of 20.56% and a return on equity of 12.49%.

Institutional Trading of Taylor Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its position in shares of Taylor Devices by 84.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 47,198 shares of the industrial products company’s stock worth $2,690,000 after buying an additional 21,590 shares during the period. BlackRock Inc. acquired a new position in Taylor Devices in the second quarter valued at approximately $10,438,000. Punch & Associates Investment Management Inc. bought a new position in Taylor Devices in the second quarter valued at approximately $1,895,000. De Lisle Partners LLP bought a new position in Taylor Devices in the second quarter valued at approximately $2,699,000. Finally, Sei Investments Co. acquired a new stake in Taylor Devices during the 1st quarter worth $943,000. 17.62% of the stock is currently owned by institutional investors and hedge funds.

About Taylor Devices

Taylor Devices, Inc (NASDAQ: TAYD) designs and manufactures specialized shock absorption, vibration isolation and structural protection products. Its engineered systems are used to control motion, dissipate energy and protect people, equipment and structures from impacts, vibration, seismic activity and other dynamic forces.

The company’s product portfolio includes hydraulic shock absorbers, fluid viscous dampers, seismic dampers, isolation systems and other custom-engineered energy-management devices.