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

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

TAYD has been the topic of several other reports. Wall Street Zen raised shares of Taylor Devices from a “hold” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Weiss Ratings raised shares of Taylor Devices from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Taylor Devices Stock Up 4.5%

Shares of Taylor Devices stock opened at $71.98 on Monday. Taylor Devices has a fifty-two week low of $29.50 and a fifty-two week high of $73.20. The business’s fifty day moving average is $54.52 and its two-hundred day moving average is $48.71. The firm has a market cap of $226.74 million, a PE ratio of 22.85 and a beta of 0.97.

Taylor Devices (NASDAQ:TAYD) last issued its quarterly earnings results on Wednesday, December 31st. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.11. The firm had revenue of $11.60 million for the quarter, compared to analyst estimates of $10.40 million. Taylor Devices had a return on equity of 15.75% and a net margin of 20.75%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Taylor Devices by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 151,867 shares of the industrial products company’s stock valued at $7,451,000 after buying an additional 3,121 shares during the period. Ameriprise Financial Inc. acquired a new stake in Taylor Devices in the second quarter valued at approximately $4,361,000. Dimensional Fund Advisors LP raised its stake in shares of Taylor Devices by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 69,326 shares of the industrial products company’s stock valued at $3,401,000 after purchasing an additional 1,153 shares during the period. Courier Capital LLC raised its stake in shares of Taylor Devices by 10.4% during the second quarter. Courier Capital LLC now owns 53,221 shares of the industrial products company’s stock valued at $2,310,000 after purchasing an additional 5,000 shares during the period. Finally, Punch & Associates Investment Management Inc. lifted its position in shares of Taylor Devices by 2.7% during the third quarter. Punch & Associates Investment Management Inc. now owns 51,325 shares of the industrial products company’s stock worth $2,518,000 after purchasing an additional 1,325 shares in the last quarter. Institutional investors and hedge funds own 17.62% of the company’s stock.

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.