Taylor Devices (NASDAQ:TAYD) Raised to “Buy” at Wall Street Zen

Taylor Devices (NASDAQ:TAYD) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Separately, Weiss Ratings cut shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Taylor Devices Trading Up 1.4%

Shares of TAYD opened at $54.22 on Friday. The company has a market capitalization of $174.59 million, a price-to-earnings ratio of 16.43 and a beta of 0.92. The stock has a 50 day moving average of $54.81 and a 200 day moving average of $64.31. Taylor Devices has a 12 month low of $40.50 and a 12 month high of $90.37.

Insider Activity

In other Taylor Devices news, Director Robert Michael Carey sold 5,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $56.73, for a total transaction of $283,650.00. Following the completion of the sale, the director directly owned 7,721 shares of the company’s stock, valued at approximately $438,012.33. This represents a 39.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.88% of the company’s stock.

Institutional Investors Weigh In On Taylor Devices

Several hedge funds have recently modified their holdings of TAYD. Royal Bank of Canada increased 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 worth $43,000 after acquiring an additional 300 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Taylor Devices by 253.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 727 shares in the last quarter. Rhumbline Advisers boosted 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 valued at $76,000 after purchasing an additional 468 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Taylor Devices by 16.3% in 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 acquiring an additional 301 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in shares of Taylor Devices in the third quarter valued at about $205,000. 17.62% of the stock is owned by hedge funds and other institutional investors.

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.