Taylor Devices (NASDAQ:TAYD) Stock Crosses Above 200-Day Moving Average – Here’s Why

Taylor Devices, Inc. (NASDAQ:TAYD) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $60.78 and traded as high as $76.63. Taylor Devices shares last traded at $74.87, with a volume of 24,684 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Taylor Devices from a “hold” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Weiss Ratings raised Taylor Devices from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Finally, Freedom Capital lowered Taylor Devices from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Taylor Devices Trading Down 0.2%

The stock has a fifty day moving average of $79.05 and a two-hundred day moving average of $60.78. The company has a market capitalization of $235.84 million, a PE ratio of 23.77 and a beta of 0.93.

Taylor Devices (NASDAQ:TAYD) last issued its earnings results 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 business had revenue of $11.60 million during the quarter, compared to analyst estimates of $10.40 million.

Institutional Investors Weigh In On Taylor Devices

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position 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 worth $4,067,000 after purchasing an additional 217 shares during the period. Geode Capital Management LLC lifted its stake in Taylor Devices by 0.7% in 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 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 buying an additional 300 shares during the period. Bank of America Corp DE grew its stake in shares of Taylor Devices by 16.3% during the second 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 last quarter. Finally, First Trust Advisors LP grew its stake in shares of 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 valued at $440,000 after buying an additional 399 shares during the last quarter. Hedge funds and other institutional investors 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.