Taylor Devices (NASDAQ:TAYD) Stock Rating Lowered by Wall Street Zen

Taylor Devices (NASDAQ:TAYD) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Taylor Devices in a report on Monday, December 1st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Taylor Devices Stock Down 1.4%

Shares of TAYD stock opened at $47.53 on Friday. Taylor Devices has a 52-week low of $29.50 and a 52-week high of $53.73. The stock has a market cap of $149.72 million, a PE ratio of 16.68 and a beta of 0.97. The business has a 50-day simple moving average of $45.56 and a 200-day simple moving average of $44.41.

Taylor Devices (NASDAQ:TAYD) last released its quarterly earnings data on Wednesday, October 1st. The industrial products company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $9.92 million for the quarter, compared to analyst estimates of $13.10 million. Taylor Devices had a return on equity of 14.90% and a net margin of 20.04%.

Institutional Investors Weigh In On Taylor Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in TAYD. Vanguard Group Inc. lifted its holdings in Taylor Devices by 2.1% during the third quarter. Vanguard Group Inc. now owns 151,867 shares of the industrial products company’s stock valued at $7,451,000 after purchasing an additional 3,121 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in Taylor Devices in the 2nd quarter valued at $4,361,000. Dimensional Fund Advisors LP boosted its stake in Taylor Devices by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 69,326 shares of the industrial products company’s stock worth $3,401,000 after purchasing an additional 1,153 shares during the last quarter. Courier Capital LLC grew its holdings in shares of Taylor Devices by 10.4% during the second quarter. Courier Capital LLC now owns 53,221 shares of the industrial products company’s stock worth $2,310,000 after buying an additional 5,000 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. raised its position in shares of Taylor Devices by 2.7% in the third quarter. Punch & Associates Investment Management Inc. now owns 51,325 shares of the industrial products company’s stock valued at $2,518,000 after buying an additional 1,325 shares during the last quarter. Hedge funds and other institutional investors own 17.62% of the company’s stock.

Taylor Devices Company Profile

Taylor Devices, Inc engages in design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic dampers that are designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers primarily used in defense, aerospace, and commercial industries; and crane and industrial buffers, which are larger versions of the Fluidicshoks for industrial application on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys, and train car stops.