Taylor Devices (NASDAQ:TAYD) Stock Crosses Below 200 Day Moving Average - Time to Sell?

Key Points

• Taylor Devices shares fell below their 200-day moving average, trading as low as $59.05 versus the $59.35 average, while last trading at $59.29.
• Analyst sentiment remains generally positive, with an average rating of “Buy” and a consensus price target of $70, despite mixed recommendations ranging from Hold to Strong Buy.
• The company’s latest quarterly results missed expectations: EPS came in at $0.50 versus $0.78 expected, while revenue was $8.95 million compared with the $12.80 million consensus estimate.

Taylor Devices, Inc. (NASDAQ:TAYD - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $59.35 and traded as low as $59.05. Taylor Devices shares last traded at $59.29, with a volume of 35,910 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Freedom Capital raised Taylor Devices from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 20th. Freedom Broker raised Taylor Devices from a "hold" rating to a "buy" rating and increased their price objective for the company from $67.00 to $70.00 in a report on Thursday, August 20th. Weiss Ratings lowered shares of Taylor Devices from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen cut shares of Taylor Devices from a "buy" rating to a "hold" rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $70.00.

Taylor Devices Stock Performance

The business has a 50-day simple moving average of $56.50 and a two-hundred day simple moving average of $59.35. The company has a market capitalization of $190.91 million, a price-to-earnings ratio of 22.54 and a beta of 0.96.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last released its quarterly earnings results on Tuesday, August 18th. The industrial products company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.28). The company had revenue of $8.95 million for the quarter, compared to analysts' expectations of $12.80 million. Taylor Devices had a return on equity of 12.49% and a net margin of 20.56%.

Hedge Funds Weigh In On Taylor Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System acquired a new position in shares of Taylor Devices during the 2nd quarter worth $152,000. Navellier & Associates Inc. purchased a new position in Taylor Devices in the second quarter valued at about $517,000. Punch & Associates Investment Management Inc. acquired a new position in Taylor Devices during the second quarter worth $1,895,000. Martin & Co. Inc. TN acquired a new position in Taylor Devices during the second quarter worth $3,415,000. Finally, De Lisle Partners LLP purchased a new stake in Taylor Devices during the second quarter worth $2,699,000. 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.

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