Taylor Devices (NASDAQ:TAYD) Releases Quarterly Earnings Results, Misses Estimates By $0.28 EPS

Taylor Devices (NASDAQ:TAYD) released its quarterly earnings results on Tuesday. The industrial products company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28), FiscalAI reports. Taylor Devices had a net margin of 21.52% and a return on equity of 15.77%. The company had revenue of $8.95 million during the quarter, compared to analysts’ expectations of $12.80 million.

Taylor Devices Stock Performance

NASDAQ:TAYD opened at $55.35 on Tuesday. The business’s fifty day moving average is $55.29 and its 200 day moving average is $62.31. The firm has a market cap of $178.23 million, a price-to-earnings ratio of 16.77 and a beta of 0.94. Taylor Devices has a 52-week low of $40.50 and a 52-week high of $90.37.

Analyst Ratings Changes

TAYD has been the subject of a number of research analyst reports. Wall Street Zen downgraded Taylor Devices from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings raised Taylor Devices from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. bought a new stake in shares of Taylor Devices in the 2nd quarter worth approximately $4,361,000. Martin & Co. Inc. TN raised its stake in Taylor Devices by 64.8% in the fourth quarter. Martin & Co. Inc. TN now owns 45,382 shares of the industrial products company’s stock worth $2,653,000 after buying an additional 17,846 shares in the last quarter. Susquehanna International Group LLP bought a new position in Taylor Devices in the third quarter worth about $742,000. Jane Street Group LLC purchased a new stake in Taylor Devices in the fourth quarter worth about $650,000. Finally, 683 Capital Management LLC purchased a new stake in Taylor Devices in the fourth quarter worth about $606,000. 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.