Taylor Devices (NASDAQ:TAYD) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Taylor Devices (NASDAQ:TAYD) announced its earnings results on Tuesday. The industrial products company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02, FiscalAI reports. Taylor Devices had a net margin of 20.75% and a return on equity of 15.75%. The firm had revenue of $11.17 million during the quarter, compared to analyst estimates of $13.18 million.

Taylor Devices Price Performance

Shares of TAYD stock opened at $72.09 on Tuesday. The company has a fifty day moving average price of $79.00 and a two-hundred day moving average price of $61.16. Taylor Devices has a one year low of $29.50 and a one year high of $90.37. The stock has a market cap of $227.08 million, a P/E ratio of 22.89 and a beta of 0.93.

Analyst Ratings Changes

TAYD has been the topic of several analyst reports. Wall Street Zen raised shares of Taylor Devices from a “hold” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Weiss Ratings raised Taylor Devices from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Finally, Freedom Capital lowered Taylor Devices from a “strong-buy” rating to a “hold” rating in a report 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On Taylor Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers increased its position in Taylor Devices by 24.8% during the first quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock worth $76,000 after buying an additional 468 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Taylor Devices by 29.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 21,300 shares of the industrial products company’s stock worth $924,000 after acquiring an additional 4,888 shares during the last quarter. First Trust Advisors LP raised its stake in Taylor Devices by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 399 shares during the period. Ameriprise Financial Inc. bought a new stake in Taylor Devices in the 2nd quarter valued at $4,361,000. Finally, Bank of America Corp DE lifted its holdings in Taylor Devices by 16.3% during 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 purchasing an additional 301 shares during the last quarter. 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.