Taylor Devices (NASDAQ:TAYD) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Taylor Devices to a “hold” rating. The stock has a “Moderate Buy” consensus among analysts, with an average price target of $70.
• Taylor Devices shares opened at $54.97, down 10%, and remain below their 50-day and 200-day moving averages. The stock has traded between $40.50 and $90.37 over the past year.
• The company’s latest quarterly results missed expectations, reporting $0.14 in EPS versus $0.92 expected and revenue of $7.30 million versus estimates of $13.10 million.

Taylor Devices (NASDAQ:TAYD - Get Free Report) was upgraded by stock analysts at Zacks Research to a "hold" rating in a research note issued to investors on Thursday, Zacks reports.

Several other research analysts have also recently weighed in on the company. Freedom Capital upgraded Taylor Devices from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 20th. Freedom Broker raised Taylor Devices from a "hold" rating to a "buy" rating and increased their price target for the company from $67.00 to $70.00 in a report on Thursday, August 20th. Weiss Ratings downgraded Taylor Devices from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen lowered Taylor Devices from a "buy" rating to a "hold" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $70.00.

Taylor Devices Stock Down 10.0%

Shares of NASDAQ TAYD opened at $54.97 on Thursday. The firm has a 50-day simple moving average of $58.12 and a 200-day simple moving average of $57.31. The stock has a market capitalization of $177.28 million, a price-to-earnings ratio of 20.90 and a beta of 0.94. Taylor Devices has a 52 week low of $40.50 and a 52 week high of $90.37.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last posted its quarterly earnings results on Friday, October 2nd. The industrial products company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.78). Taylor Devices had a return on equity of 12.49% and a net margin of 20.56%.The business had revenue of $7.30 million for the quarter, compared to analyst estimates of $13.10 million. As a group, equities research analysts expect that Taylor Devices will post 3.61 EPS for the current year.

Institutional Trading of Taylor Devices

Hedge funds have recently made changes to their positions in the company. Deutsche Bank AG acquired a new stake in shares of Taylor Devices during the 2nd quarter worth approximately $189,000. Lazard Asset Management LLC acquired a new position in Taylor Devices in the first quarter valued at approximately $230,000. Hillsdale Investment Management Inc. acquired a new position in Taylor Devices in the first quarter valued at approximately $251,000. Bank of America Corp DE grew its position in Taylor Devices by 6.9% in the first quarter. Bank of America Corp DE now owns 5,739 shares of the industrial products company's stock worth $327,000 after acquiring an additional 368 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Taylor Devices in the second quarter worth approximately $403,000. Hedge funds and other institutional investors own 17.62% of the company's stock.

Taylor Devices Company Profile

Taylor Devices, Inc NASDAQ: TAYD designs and manufactures specialized shock absorption, vibration isolation and structural protection products. Its engineered systems are used to control motion, dissipate energy and protect people, equipment and structures from impacts, vibration, seismic activity and other dynamic forces.

The company's product portfolio includes hydraulic shock absorbers, fluid viscous dampers, seismic dampers, isolation systems and other custom-engineered energy-management devices.

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