Taylor Devices (NASDAQ:TAYD) Cut to “Hold” at Wall Street Zen

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

Separately, Weiss Ratings downgraded Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Taylor Devices Trading Down 1.7%

Shares of TAYD opened at $52.79 on Monday. Taylor Devices has a twelve month low of $40.50 and a twelve month high of $90.37. The firm has a market capitalization of $169.98 million, a P/E ratio of 16.00 and a beta of 0.94. The firm’s 50-day moving average is $55.19 and its two-hundred day moving average is $63.39.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Taylor Devices by 68.2% during the 4th 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 last quarter. Tower Research Capital LLC TRC raised its position 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 valued at $44,000 after buying an additional 727 shares during the last quarter. 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 valued at $76,000 after buying an additional 468 shares during the period. Bank of America Corp DE lifted its stake 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 valued at $93,000 after buying an additional 301 shares during the period. Finally, Two Sigma Investments LP purchased a new position in shares of Taylor Devices during the third quarter valued at approximately $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.