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

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

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Taylor Devices in a research note on Saturday, September 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Taylor Devices Trading Down 6.1%

Shares of TAYD stock opened at $42.37 on Friday. Taylor Devices has a 1 year low of $29.50 and a 1 year high of $53.73. The firm’s fifty day moving average price is $46.61 and its two-hundred day moving average price is $40.47. The firm has a market capitalization of $133.47 million, a P/E ratio of 14.87 and a beta of 0.97.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TAYD. Ameriprise Financial Inc. bought a new position in shares of Taylor Devices in the 2nd quarter valued at about $4,361,000. RBF Capital LLC bought a new stake in shares of Taylor Devices during the 2nd quarter worth about $1,085,000. Martin & Co. Inc. TN bought a new stake in shares of Taylor Devices during the 2nd quarter worth about $817,000. De Lisle Partners LLP boosted its holdings in shares of Taylor Devices by 60.6% during the 1st quarter. De Lisle Partners LLP now owns 42,276 shares of the industrial products company’s stock worth $1,374,000 after buying an additional 15,950 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Taylor Devices during the 2nd quarter worth about $304,000. 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.