Taylor Devices (NASDAQ:TAYD) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Taylor Devices (NASDAQ:TAYD) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Taylor Devices in a report on Monday, December 1st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Taylor Devices Trading Up 2.0%

NASDAQ TAYD opened at $48.50 on Friday. Taylor Devices has a 1-year low of $29.50 and a 1-year high of $53.73. The company has a 50 day moving average of $45.56 and a 200-day moving average of $44.49. The company has a market cap of $152.78 million, a price-to-earnings ratio of 17.02 and a beta of 0.97.

Taylor Devices (NASDAQ:TAYD) last issued its quarterly earnings results on Wednesday, October 1st. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Taylor Devices had a return on equity of 14.90% and a net margin of 20.04%.The business had revenue of $9.92 million for the quarter, compared to the consensus estimate of $13.10 million.

Hedge Funds Weigh In On Taylor Devices

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in shares of Taylor Devices by 253.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock worth $44,000 after buying an additional 727 shares in the last quarter. Rhumbline Advisers raised its stake in Taylor Devices by 24.8% during the first quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 468 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Taylor Devices by 16.3% in the second quarter. Bank of America Corp DE now owns 2,153 shares of the industrial products company’s stock worth $93,000 after acquiring an additional 301 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Taylor Devices in the 3rd quarter valued at approximately $205,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Taylor Devices during the 3rd quarter valued at approximately $214,000. Institutional investors own 17.62% of the company’s stock.

About Taylor Devices

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.