Taylor Devices (NASDAQ:TAYD) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

Shares of Taylor Devices, Inc. (NASDAQ:TAYD) crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $58.68 and traded as high as $58.81. Taylor Devices shares last traded at $58.72, with a volume of 12,650 shares.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TAYD. Weiss Ratings cut Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. Wall Street Zen lowered shares of Taylor Devices from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Freedom Broker lowered shares of Taylor Devices from a “buy” rating to a “hold” rating and decreased their target price for the stock from $70.00 to $65.00 in a research report on Tuesday, October 13th. Zacks Research raised shares of Taylor Devices to a “hold” rating in a research note on Thursday, October 1st. 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 and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Taylor Devices Stock Up 0.8%

The firm has a fifty day moving average of $58.68 and a 200-day moving average of $61.30. The stock has a market capitalization of $189.67 million, a price-to-earnings ratio of 28.37 and a beta of 0.97.

Taylor Devices (NASDAQ:TAYD) last posted its earnings results on Friday, October 2nd. The industrial products company reported $0.14 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 9.64% and a net margin of 17.50%. As a group, research analysts forecast that Taylor Devices, Inc. will post 3.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Taylor Devices in the 2nd quarter worth about $10,438,000. Martin & Co. Inc. TN acquired a new position in Taylor Devices during the second quarter worth about $3,415,000. Renaissance Technologies LLC raised its position in Taylor Devices by 12.5% during the first quarter. Renaissance Technologies LLC now owns 49,662 shares of the industrial products company’s stock worth $2,831,000 after acquiring an additional 5,500 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Taylor Devices by 84.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 47,198 shares of the industrial products company’s stock worth $2,690,000 after acquiring an additional 21,590 shares during the last quarter. Finally, De Lisle Partners LLP purchased a new stake in shares of Taylor Devices in the second quarter valued at about $2,699,000. Institutional investors and hedge funds own 17.62% of the company’s stock.

Taylor Devices Company Profile

Taylor Devices designs and manufactures products that control shock, vibration and motion. Its offerings include fluid viscous dampers, shock absorbers, vibration isolation systems and rate-control devices for applications that require protection from impact or unwanted movement. The company’s products serve a range of markets, including aerospace, defense, industrial equipment and construction. In the building and infrastructure sector, Taylor Devices supplies damping systems designed to help structures such as buildings and bridges withstand forces from earthquakes and wind.