Taylor Devices (NASDAQ:TAYD) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Taylor Devices (NASDAQ:TAYD) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02, FiscalAI reports. The firm had revenue of $11.17 million during the quarter, compared to analysts’ expectations of $13.18 million. Taylor Devices had a return on equity of 15.75% and a net margin of 20.75%.

Taylor Devices Stock Down 1.5%

Shares of NASDAQ TAYD opened at $71.00 on Tuesday. The business’s 50 day moving average price is $79.00 and its two-hundred day moving average price is $61.16. The company has a market cap of $223.65 million, a PE ratio of 22.54 and a beta of 0.93. Taylor Devices has a twelve month low of $29.50 and a twelve month high of $90.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Taylor Devices by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 69,543 shares of the industrial products company’s stock valued at $4,067,000 after acquiring an additional 217 shares during the period. Geode Capital Management LLC lifted its holdings in Taylor Devices by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 35,509 shares of the industrial products company’s stock valued at $2,077,000 after purchasing an additional 259 shares during the last quarter. Royal Bank of Canada boosted its position in Taylor Devices by 68.2% during the fourth quarter. Royal Bank of Canada now owns 740 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 300 shares during the period. Bank of America Corp DE increased its holdings in shares of 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 valued at $93,000 after purchasing an additional 301 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of 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 purchasing an additional 399 shares during the last quarter. 17.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TAYD shares. Freedom Capital cut Taylor Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings raised shares of Taylor Devices from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Finally, Wall Street Zen raised shares of Taylor Devices from a “hold” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Taylor Devices presently has a consensus rating of “Moderate Buy”.

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.