Zacks Research Upgrades Taylor Devices (NASDAQ:TAYD) to “Hold”

Taylor Devices (NASDAQ:TAYD) was upgraded by research analysts at Zacks Research to a “hold” rating in a research note issued on Thursday, Zacks reports.

TAYD has been the subject of a number of other reports. Weiss Ratings lowered Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Wall Street Zen downgraded shares of Taylor Devices from a “buy” rating to a “hold” rating in a research note on Monday, August 3rd. Freedom Capital raised shares of Taylor Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 20th. Finally, Freedom Broker upgraded shares of Taylor Devices from a “hold” rating to a “buy” rating and increased their price objective for the company from $67.00 to $70.00 in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

Taylor Devices Stock Down 10.0%

Shares of TAYD opened at $54.97 on Thursday. Taylor Devices has a 12-month low of $40.50 and a 12-month high of $90.37. The firm has a market capitalization of $177.28 million, a price-to-earnings ratio of 20.90 and a beta of 0.94. The stock’s 50-day moving average price is $58.12 and its 200 day moving average price is $57.31.

Taylor Devices (NASDAQ:TAYD) last announced its quarterly earnings data on Friday, October 2nd. The industrial products company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.78). Taylor Devices had a return on equity of 12.49% and a net margin of 20.56%.The firm had revenue of $7.30 million during the quarter, compared to the consensus estimate of $13.10 million. Equities research analysts expect that Taylor Devices will post 3.61 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TAYD. Deutsche Bank AG acquired a new position in Taylor Devices in the second quarter worth $189,000. Lazard Asset Management LLC acquired a new stake in shares of Taylor Devices in the first quarter valued at $230,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Taylor Devices in the first quarter valued at $251,000. Bank of America Corp DE raised its holdings in shares of Taylor Devices by 6.9% in the first quarter. Bank of America Corp DE now owns 5,739 shares of the industrial products company’s stock valued at $327,000 after buying an additional 368 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Taylor Devices in the second quarter valued at about $403,000. 17.62% of the stock is owned by institutional investors and hedge funds.

Taylor Devices Company Profile

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.