Taylor Devices (NASDAQ:TAYD) Stock Rating Upgraded by Freedom Capital

Taylor Devices (NASDAQ:TAYD) was upgraded by analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other brokerages also recently commented on TAYD. Weiss Ratings downgraded shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. Wall Street Zen lowered shares of Taylor Devices from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy”.

Taylor Devices Trading Up 4.9%

Shares of Taylor Devices stock opened at $58.52 on Thursday. The company has a market capitalization of $188.43 million, a P/E ratio of 22.25 and a beta of 0.94. The stock has a fifty day simple moving average of $55.49 and a 200 day simple moving average of $61.96. Taylor Devices has a 12-month low of $40.50 and a 12-month high of $90.37.

Taylor Devices (NASDAQ:TAYD) last issued its quarterly earnings data on Tuesday, August 18th. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.28). The company had revenue of $8.95 million for the quarter, compared to the consensus estimate of $12.80 million. Taylor Devices had a net margin of 20.56% and a return on equity of 12.49%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TAYD. Arrowstreet Capital Limited Partnership grew its stake in shares of Taylor Devices by 84.3% during the 1st 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 period. Sei Investments Co. purchased a new stake in Taylor Devices in the 1st quarter worth about $943,000. BlackRock Inc. bought a new stake in Taylor Devices in the 2nd quarter valued at about $10,438,000. Deutsche Bank AG bought a new stake in Taylor Devices in the 2nd quarter valued at about $189,000. Finally, Navellier & Associates Inc. purchased a new stake in Taylor Devices during the second quarter valued at about $517,000. 17.62% of the stock is currently owned by hedge funds and other institutional investors.

Taylor Devices Company Profile

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.