Wall Street Zen Downgrades Taylor Devices (NASDAQ:TAYD) to Hold

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

A number of other analysts have also weighed in on the stock. 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. Freedom Capital downgraded shares of Taylor Devices from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Taylor Devices Price Performance

Shares of NASDAQ:TAYD opened at $57.47 on Friday. Taylor Devices has a 52-week low of $29.50 and a 52-week high of $90.37. The stock has a market cap of $185.05 million, a P/E ratio of 17.42 and a beta of 1.12. The business’s 50 day moving average is $77.81 and its 200 day moving average is $61.45.

Taylor Devices (NASDAQ:TAYD) last issued its earnings results on Tuesday, March 31st. The industrial products company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Taylor Devices had a return on equity of 15.77% and a net margin of 21.52%.The business had revenue of $11.17 million during the quarter, compared to analyst estimates of $13.18 million.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TAYD. 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 valued at $43,000 after purchasing an additional 300 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in 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 purchasing an additional 727 shares during the last quarter. Rhumbline Advisers raised its holdings in Taylor Devices by 24.8% in the first quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 468 shares in the last quarter. Bank of America Corp DE raised its holdings in 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 worth $93,000 after purchasing an additional 301 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Taylor Devices during the third quarter valued at about $205,000. 17.62% of the stock is owned by institutional investors.

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.