Taylor Devices (NASDAQ:TAYD) Downgraded by Wall Street Zen to Hold

Key Points

• Downgraded — Wall Street Zen cut Taylor Devices from a "strong-buy" to a "hold"; Freedom Capital also moved to "hold" while Weiss Ratings upgraded to "buy," leaving a MarketBeat consensus of "Moderate Buy" (one Buy, one Hold).
• Stock snapshot: shares opened at $57.47, market capitalization about $185.1 million, P/E 17.42, 50‑day/200‑day SMAs $77.81 and $61.25, and a 52‑week range of $29.50–$90.37.
• Mixed quarter — Taylor Devices reported EPS of $0.79 (beat $0.77) but revenue of $11.17 million missed the $13.18 million estimate, with a net margin of 21.52% and ROE of 15.77%.

Taylor Devices (NASDAQ:TAYD - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other brokerages have also issued reports on TAYD. Freedom Capital lowered Taylor Devices from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 12th. Weiss Ratings upgraded Taylor Devices from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, January 12th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Taylor Devices Stock Performance

NASDAQ TAYD opened at $57.47 on Friday. The firm has a market capitalization of $185.05 million, a price-to-earnings ratio of 17.42 and a beta of 1.12. The firm's 50 day simple moving average is $77.81 and its 200 day simple moving average is $61.25. Taylor Devices has a 1 year low of $29.50 and a 1 year high of $90.37.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. Taylor Devices had a net margin of 21.52% and a return on equity of 15.77%. The business had revenue of $11.17 million for the quarter, compared to analysts' expectations of $13.18 million.

Institutional Trading of Taylor Devices

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of Taylor Devices by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 69,543 shares of the industrial products company's stock worth $4,067,000 after buying an additional 217 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Taylor Devices by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 35,509 shares of the industrial products company's stock valued at $2,077,000 after acquiring an additional 259 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Taylor Devices by 68.2% during the 4th quarter. Royal Bank of Canada now owns 740 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 300 shares in the last quarter. Bank of America Corp DE grew 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 last quarter. Finally, First Trust Advisors LP grew its position 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 worth $440,000 after acquiring an additional 399 shares during the last quarter. Institutional investors and hedge funds 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.

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