Taylor Devices (NASDAQ:TAYD) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen downgraded shares of Taylor Devices (NASDAQ:TAYD) from a strong-buy rating to a buy rating in a research report released on Friday morning.

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

Taylor Devices Trading Down 6.1%

TAYD stock opened at $42.37 on Friday. The business’s 50 day simple moving average is $46.61 and its 200 day simple moving average is $40.41. Taylor Devices has a 1-year low of $29.50 and a 1-year high of $53.73. The firm has a market capitalization of $133.34 million, a PE ratio of 14.87 and a beta of 0.97.

Taylor Devices (NASDAQ:TAYD) last announced 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 return on equity of 14.90% and a net margin of 20.04%.The business had revenue of $9.92 million during the quarter, compared to the consensus estimate of $13.10 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TAYD. GAMMA Investing LLC grew its holdings in Taylor Devices by 3,746.2% in the 1st quarter. GAMMA Investing LLC now owns 1,000 shares of the industrial products company’s stock valued at $31,000 after buying an additional 974 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Taylor Devices by 253.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock valued at $44,000 after buying an additional 727 shares in the last quarter. Rhumbline Advisers grew its holdings in Taylor Devices by 24.8% in the 1st quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock valued at $76,000 after buying an additional 468 shares in the last quarter. Bank of America Corp DE grew its holdings in 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 buying an additional 301 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Taylor Devices in the 1st quarter valued at $212,000. 17.62% of the stock is owned by institutional investors and hedge funds.

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.