Taylor Devices (NASDAQ:TAYD) Rating Lowered to Buy at StockNews.com

Taylor Devices (NASDAQ:TAYD) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Monday.

Taylor Devices Stock Performance

TAYD traded up $2.28 on Monday, reaching $47.26. 42,381 shares of the company’s stock were exchanged, compared to its average volume of 24,050. The company’s 50 day moving average is $47.65 and its 200-day moving average is $40.09. The company has a market cap of $166.36 million, a price-to-earnings ratio of 18.98 and a beta of 1.03. Taylor Devices has a twelve month low of $18.06 and a twelve month high of $61.69.

Taylor Devices (NASDAQ:TAYD) last issued its quarterly earnings data on Thursday, March 28th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter. Taylor Devices had a net margin of 19.87% and a return on equity of 16.84%. The company had revenue of $12.25 million during the quarter.

Institutional Investors Weigh In On Taylor Devices

A number of hedge funds have recently added to or reduced their stakes in the stock. National Wealth Management Group LLC bought a new stake in shares of Taylor Devices during the first quarter valued at about $590,000. Elkhorn Partners Limited Partnership grew its holdings in Taylor Devices by 47.2% during the first quarter. Elkhorn Partners Limited Partnership now owns 26,205 shares of the industrial products company’s stock worth $1,304,000 after acquiring an additional 8,405 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in Taylor Devices during the first quarter worth about $488,000. Vanguard Group Inc. grew its holdings in Taylor Devices by 6.7% during the first quarter. Vanguard Group Inc. now owns 56,441 shares of the industrial products company’s stock worth $2,809,000 after acquiring an additional 3,561 shares during the period. Finally, LSV Asset Management acquired a new position in Taylor Devices during the first quarter worth about $119,000. 17.62% of the stock is currently owned by institutional investors.

Taylor Devices Company Profile

Taylor Devices, Inc engages in design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic dampers that are designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers primarily used in defense, aerospace, and commercial industries; and crane and industrial buffers, which are larger versions of the Fluidicshoks for industrial application on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys, and train car stops.