Taylor Devices (NASDAQ:TAYD) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Taylor Devices, Inc. (NASDAQ:TAYD)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $55.83 and traded as high as $88.44. Taylor Devices shares last traded at $84.97, with a volume of 71,667 shares.

Analyst Upgrades and Downgrades

TAYD has been the topic of a number of research analyst reports. Freedom Capital cut shares of Taylor Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Wall Street Zen upgraded shares of Taylor Devices from a “hold” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. Finally, Weiss Ratings upgraded shares of Taylor Devices from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Taylor Devices Price Performance

The firm has a market capitalization of $267.66 million, a price-to-earnings ratio of 26.97 and a beta of 0.97. The business’s 50 day moving average price is $72.60 and its 200-day moving average price is $55.83.

Taylor Devices (NASDAQ:TAYD) last released its quarterly earnings data on Wednesday, December 31st. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.11. Taylor Devices had a return on equity of 15.75% and a net margin of 20.75%.The firm had revenue of $11.60 million during the quarter, compared to analysts’ expectations of $10.40 million.

Hedge Funds Weigh In On Taylor Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 683 Capital Management LLC acquired a new stake in shares of Taylor Devices in the fourth quarter valued at approximately $606,000. Royal Bank of Canada lifted its stake in Taylor Devices by 68.2% in the 4th quarter. Royal Bank of Canada now owns 740 shares of the industrial products company’s stock valued at $43,000 after buying an additional 300 shares in the last quarter. Barclays PLC increased its position in Taylor Devices by 621.0% during the fourth quarter. Barclays PLC now owns 3,533 shares of the industrial products company’s stock worth $207,000 after buying an additional 3,043 shares in the last quarter. Martin & Co. Inc. TN raised its holdings in shares of Taylor Devices by 64.8% in the fourth quarter. Martin & Co. Inc. TN now owns 45,382 shares of the industrial products company’s stock worth $2,653,000 after acquiring an additional 17,846 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Taylor Devices in the fourth quarter valued at $650,000. Institutional investors and hedge funds own 17.62% of the company’s stock.

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.