Taylor Devices (NASDAQ:TAYD – Get Free Report) was upgraded by equities researchers at Freedom Capital from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.
Other analysts also recently issued research reports about the company. Wall Street Zen downgraded Taylor Devices from a “buy” rating to a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings downgraded shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.
Check Out Our Latest Stock Analysis on TAYD
Taylor Devices Stock Performance
Taylor Devices (NASDAQ:TAYD – Get Free Report) last announced its quarterly earnings data on Tuesday, August 18th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.28). Taylor Devices had a return on equity of 12.49% and a net margin of 20.56%.The firm had revenue of $8.95 million during the quarter, compared to analysts’ expectations of $12.80 million.
Institutional Investors Weigh In On Taylor Devices
A number of hedge funds have recently modified their holdings of TAYD. Dimensional Fund Advisors LP raised its holdings 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 last quarter. Geode Capital Management LLC increased its position in Taylor Devices by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 35,509 shares of the industrial products company’s stock worth $2,077,000 after purchasing an additional 259 shares during the last quarter. Royal Bank of Canada grew its stake in shares of 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 during the period. Bank of America Corp DE raised its position in shares of Taylor Devices by 16.3% during the 2nd 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, First Trust Advisors LP increased its stake in Taylor Devices by 4.1% during the second quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 399 shares during the last quarter. 17.62% of the stock is currently owned by institutional investors and hedge funds.
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.
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