Taylor Devices (NASDAQ:TAYD) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• Analysts at Wall Street Zen downgraded Taylor Devices from a "strong-buy" to a "buy" rating, while Weiss Ratings maintained a "hold" rating for the stock.
• Shares of Taylor Devices (NASDAQ:TAYD) fell by $2.77 to $42.37, with a market capitalization of $133.34 million and a PE ratio of 14.87.
• Despite exceeding earnings expectations with an EPS of $0.70, the company reported revenue of $9.92 million, which was below analysts' estimates of $13.10 million.

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

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of Taylor Devices in a research note on Saturday, September 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Taylor Devices Stock Performance

Shares of TAYD traded down $2.77 on Friday, hitting $42.37. 19,421 shares of the stock traded hands, compared to its average volume of 11,761. The company has a market capitalization of $133.34 million, a PE ratio of 14.87 and a beta of 0.97. The business has a 50 day simple moving average of $46.61 and a 200 day simple moving average of $40.41. Taylor Devices has a one year low of $29.50 and a one year high of $53.73.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last posted its earnings results on Wednesday, October 1st. The industrial products company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. Taylor Devices had a return on equity of 14.90% and a net margin of 20.04%.The business had revenue of $9.92 million during the quarter, compared to analyst estimates of $13.10 million.

Institutional Trading of Taylor Devices

Several large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its position in shares of Taylor Devices by 24.8% during the 1st quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company's stock valued at $76,000 after acquiring an additional 468 shares during the period. Bank of America Corp DE grew its holdings in Taylor Devices by 57.1% during the fourth quarter. Bank of America Corp DE now owns 2,800 shares of the industrial products company's stock valued at $117,000 after purchasing an additional 1,018 shares during the period. Bank of New York Mellon Corp bought a new stake in Taylor Devices during the first quarter valued at about $212,000. GAMMA Investing LLC grew its stake in shares of Taylor Devices by 3,746.2% during the 1st quarter. GAMMA Investing LLC now owns 1,000 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 974 shares during the period. Finally, De Lisle Partners LLP grew its stake in shares of Taylor Devices by 60.6% during the 1st quarter. De Lisle Partners LLP now owns 42,276 shares of the industrial products company's stock valued at $1,374,000 after acquiring an additional 15,950 shares during the period. 17.62% of the stock is currently owned by institutional investors.

About Taylor Devices

Taylor Devices, Inc engages in design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic dampers that are designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers primarily used in defense, aerospace, and commercial industries; and crane and industrial buffers, which are larger versions of the Fluidicshoks for industrial application on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys, and train car stops.

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