Wall Street Zen Upgrades Taylor Devices (NASDAQ:TAYD) to “Strong-Buy”

Taylor Devices (NASDAQ:TAYD) was upgraded by Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research report issued on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Taylor Devices in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Taylor Devices Price Performance

Shares of Taylor Devices stock opened at $64.25 on Friday. The stock has a market cap of $202.39 million, a price-to-earnings ratio of 20.40 and a beta of 0.97. The firm’s 50-day moving average is $51.24 and its two-hundred day moving average is $47.39. Taylor Devices has a 1 year low of $29.50 and a 1 year high of $64.25.

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

Institutional Investors Weigh In On Taylor Devices

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in Taylor Devices by 16.3% during the 2nd 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 period. First Trust Advisors LP raised its stake in shares of Taylor Devices by 4.1% in the second quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company’s stock worth $440,000 after purchasing an additional 399 shares during the last quarter. Rhumbline Advisers raised its stake 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 purchasing an additional 468 shares during the last quarter. De Lisle Partners LLP lifted its holdings in shares of Taylor Devices by 1.4% during the second quarter. De Lisle Partners LLP now owns 42,876 shares of the industrial products company’s stock worth $1,881,000 after purchasing an additional 600 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Taylor Devices by 253.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 727 shares during the period. Hedge funds and other 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.