Taylor Devices (NASDAQ:TAYD) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Taylor Devices from a "hold" to a "buy", though other firms recently cut ratings and the stock's MarketBeat consensus remains "Hold".
• The company reported Q1 EPS of $0.79, beating estimates by $0.02 while revenue missed at $11.17M versus $13.18M, and the stock was down about 4.2% (opened at $53.16).
• A director sold 5,000 shares (about $283,650), reducing his stake, with corporate insiders owning 8.88% of the stock and institutional/hedge funds holding roughly 17.62%.

Taylor Devices (NASDAQ:TAYD - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

A number of other analysts have also recently commented on the stock. Weiss Ratings cut shares of Taylor Devices from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, April 6th. Freedom Capital lowered shares of Taylor Devices from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

Taylor Devices Stock Down 4.2%

TAYD stock opened at $53.16 on Friday. The firm has a 50 day moving average of $68.76 and a 200 day moving average of $62.34. The stock has a market capitalization of $171.18 million, a PE ratio of 16.11 and a beta of 1.00. Taylor Devices has a 52 week low of $32.19 and a 52 week high of $90.37.

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

Insider Transactions at Taylor Devices

In other Taylor Devices news, Director Robert Michael Carey sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $56.73, for a total transaction of $283,650.00. Following the completion of the transaction, the director directly owned 7,721 shares of the company's stock, valued at approximately $438,012.33. This trade represents a 39.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 8.88% of the company's stock.

Hedge Funds Weigh In On Taylor Devices

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in Taylor Devices by 0.3% during the 4th 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 raised its position in Taylor Devices by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 35,509 shares of the industrial products company's stock worth $2,077,000 after buying an additional 259 shares during the last quarter. Royal Bank of Canada increased 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 purchasing an additional 300 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of 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 valued at $93,000 after purchasing an additional 301 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of 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 valued at $440,000 after purchasing an additional 399 shares in the last quarter. 17.62% of the stock is owned by hedge funds and other institutional investors.

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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