Taylor Devices (NASDAQ:TAYD) Stock Moved Up to “Hold” by Zacks Research

Zacks Research upgraded shares of Taylor Devices (NASDAQ:TAYD) to a hold rating in a report released on Thursday morning,Zacks reports.

A number of other research analysts have also recently weighed in on TAYD. Wall Street Zen cut shares of Taylor Devices from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings downgraded shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Freedom Broker upgraded shares of Taylor Devices from a “hold” rating to a “buy” rating and lifted their target price for the company from $67.00 to $70.00 in a report on Thursday, August 20th. Finally, Freedom Capital upgraded shares of Taylor Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Taylor Devices has an average rating of “Moderate Buy” and an average price target of $70.00.

Taylor Devices Price Performance

NASDAQ TAYD opened at $54.97 on Thursday. The firm has a market capitalization of $177.28 million, a P/E ratio of 20.90 and a beta of 0.94. Taylor Devices has a 1-year low of $40.50 and a 1-year high of $90.37. The business’s 50-day simple moving average is $58.12 and its 200-day simple moving average is $57.31.

Taylor Devices (NASDAQ:TAYD) last issued its earnings results on Friday, October 2nd. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.78). The firm had revenue of $7.30 million for the quarter, compared to analysts’ expectations of $13.10 million. Taylor Devices had a return on equity of 12.49% and a net margin of 20.56%. On average, equities research analysts expect that Taylor Devices will post 3.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TAYD. Bank of America Corp DE boosted its stake in Taylor Devices by 6.9% during the 1st quarter. Bank of America Corp DE now owns 5,739 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 368 shares during the period. Deutsche Bank AG acquired a new stake in shares of Taylor Devices in the second quarter valued at approximately $189,000. Lazard Asset Management LLC acquired a new stake in shares of Taylor Devices in the first quarter valued at approximately $230,000. Hillsdale Investment Management Inc. bought a new stake in shares of Taylor Devices during the first quarter valued at approximately $251,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Taylor Devices by 12.5% during the first quarter. Renaissance Technologies LLC now owns 49,662 shares of the industrial products company’s stock valued at $2,831,000 after buying an additional 5,500 shares during the last quarter. Institutional investors own 17.62% of the company’s stock.

Taylor Devices Company Profile

Taylor Devices, Inc (NASDAQ: TAYD) designs and manufactures specialized shock absorption, vibration isolation and structural protection products. Its engineered systems are used to control motion, dissipate energy and protect people, equipment and structures from impacts, vibration, seismic activity and other dynamic forces.

The company’s product portfolio includes hydraulic shock absorbers, fluid viscous dampers, seismic dampers, isolation systems and other custom-engineered energy-management devices.