Taylor Devices (NASDAQ:TAYD) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Taylor Devices (NASDAQ:TAYD) from a hold rating to a buy rating in a research note released on Sunday.

Separately, Weiss Ratings cut shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Taylor Devices currently has an average rating of “Hold”.

Taylor Devices Stock Performance

NASDAQ TAYD opened at $54.22 on Friday. Taylor Devices has a 52-week low of $40.50 and a 52-week high of $90.37. The company has a 50-day simple moving average of $54.81 and a 200 day simple moving average of $64.28. The company has a market capitalization of $174.59 million, a PE ratio of 16.43 and a beta of 0.92.

Insider Activity

In related news, Director Robert Michael Carey sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $56.73, for a total transaction of $283,650.00. Following the sale, the director directly owned 7,721 shares in the company, valued at approximately $438,012.33. This represents a 39.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Taylor Devices

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its holdings in shares of Taylor Devices by 24.8% in 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 during the period. Arrowstreet Capital Limited Partnership boosted its stake in Taylor Devices by 29.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 21,300 shares of the industrial products company’s stock worth $924,000 after purchasing an additional 4,888 shares during the period. First Trust Advisors LP grew its holdings in Taylor Devices by 4.1% during the 2nd quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company’s stock valued at $440,000 after buying an additional 399 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in Taylor Devices during the 2nd quarter valued at about $4,361,000. Finally, 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 buying an additional 301 shares in the last quarter. Institutional investors own 17.62% of the company’s stock.

About Taylor Devices

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.