Taylor Devices (NASDAQ:TAYD) Cut to Hold at Freedom Broker

Freedom Broker lowered shares of Taylor Devices (NASDAQ:TAYD) from a buy rating to a hold rating in a research report report published on Tuesday, Marketbeat reports. The firm currently has $65.00 target price on the industrial products company’s stock, down from their previous target price of $70.00.

Several other equities research analysts have also recently issued reports on TAYD. Weiss Ratings cut Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Wall Street Zen lowered Taylor Devices from a “buy” rating to a “hold” rating in a research note on Monday, August 3rd. Zacks Research raised Taylor Devices to a “hold” rating in a research note on Thursday, October 1st. Finally, Freedom Capital raised Taylor Devices from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Taylor Devices has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Taylor Devices Stock Performance

TAYD opened at $54.08 on Tuesday. The stock has a market capitalization of $174.68 million, a price-to-earnings ratio of 26.40 and a beta of 0.94. The company has a fifty day moving average of $58.90 and a 200 day moving average of $56.15. Taylor Devices has a fifty-two week low of $40.50 and a fifty-two week high of $90.37.

Taylor Devices (NASDAQ:TAYD) last announced its quarterly earnings results on Friday, October 2nd. The industrial products company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.78). Taylor Devices had a return on equity of 9.64% and a net margin of 17.50%. The company had revenue of $7.30 million during the quarter, compared to analysts’ expectations of $13.10 million. On average, equities research analysts forecast that Taylor Devices will post 3.51 earnings per share for the current year.

Institutional Investors Weigh In On Taylor Devices

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Taylor Devices in the 2nd quarter worth approximately $10,438,000. Martin & Co. Inc. TN purchased a new stake in Taylor Devices during the 2nd quarter valued at $3,415,000. Renaissance Technologies LLC lifted its position in Taylor Devices by 12.5% in the first quarter. Renaissance Technologies LLC now owns 49,662 shares of the industrial products company’s stock worth $2,831,000 after buying an additional 5,500 shares during the last quarter. De Lisle Partners LLP bought a new stake in Taylor Devices in the second quarter worth $2,699,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Taylor Devices by 84.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 47,198 shares of the industrial products company’s stock worth $2,690,000 after buying an additional 21,590 shares during the last quarter. 17.62% of the stock is owned by institutional investors.

Taylor Devices Company Profile

Taylor Devices, Inc (NASDAQ:TAYD) designs and manufactures shock absorption, vibration isolation and energy storage products for specialized engineering applications. Its products are used to control motion, manage impact forces and protect structures, equipment and personnel in demanding operating environments.

The company’s offerings include seismic dampers and restraints, fluid viscous dampers, structural protection systems, shock absorbers, vibration isolation systems, custom actuators and mechanical and fluid-based energy storage devices.