Taylor Devices (NASDAQ:TAYD) Upgraded by Freedom Capital to “Strong-Buy” Rating

Taylor Devices (NASDAQ:TAYD) was upgraded by analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other equities analysts also recently issued reports on TAYD. Wall Street Zen downgraded shares of Taylor Devices from a “buy” rating to a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings downgraded shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Taylor Devices presently has a consensus rating of “Buy”.

Taylor Devices Stock Performance

Shares of TAYD opened at $58.52 on Thursday. The stock has a 50-day simple moving average of $55.49 and a 200-day simple moving average of $61.96. Taylor Devices has a 1 year low of $40.50 and a 1 year high of $90.37. The stock has a market capitalization of $188.43 million, a PE ratio of 22.25 and a beta of 0.94.

Taylor Devices (NASDAQ:TAYD) last announced its quarterly earnings data on Tuesday, August 18th. The industrial products company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). The firm had revenue of $8.95 million during the quarter, compared to analyst estimates of $12.80 million. Taylor Devices had a net margin of 20.56% and a return on equity of 12.49%.

Institutional Investors Weigh In On Taylor Devices

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its position in Taylor Devices by 84.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 47,198 shares of the industrial products company’s stock worth $2,690,000 after purchasing an additional 21,590 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Taylor Devices during the 1st quarter worth approximately $943,000. Tower Research Capital LLC TRC lifted its stake in Taylor Devices by 253.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock valued at $44,000 after buying an additional 727 shares in the last quarter. Royal Bank of Canada lifted its stake in Taylor Devices by 68.2% in the 4th quarter. Royal Bank of Canada now owns 740 shares of the industrial products company’s stock valued at $43,000 after buying an additional 300 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Taylor Devices during the 2nd quarter valued at $403,000. 17.62% of the stock is currently owned by institutional investors and hedge funds.

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.