Taylor Devices (NASDAQ:TAYD) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Taylor Devices shares have surpassed their 200-day moving average, reaching a price of $42.62, indicating potential upward momentum in trading.
• Institutional investors have shown increased interest in the company, with Rhumbline Advisers raising its holdings by 24.8% and GAMMA Investing LLC increasing its position by an extraordinary 3,746.2%.
• The company has a market cap of $133.83 million and a P/E ratio of 17.05, suggesting it may be viewed as a growth opportunity in the industrial products sector.

Shares of Taylor Devices, Inc. (NASDAQ:TAYD - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $36.59 and traded as high as $43.36. Taylor Devices shares last traded at $42.62, with a volume of 11,164 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Taylor Devices from a "hold" rating to a "strong-buy" rating in a report on Saturday.

Taylor Devices Trading Down 0.8%

The firm has a market capitalization of $133.67 million, a price-to-earnings ratio of 14.19 and a beta of 0.89. The company has a fifty day moving average price of $43.08 and a two-hundred day moving average price of $36.74.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last released its quarterly earnings data on Friday, August 15th. The industrial products company reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.50. Taylor Devices had a return on equity of 14.99% and a net margin of 19.16%. The firm had revenue of $15.56 million for the quarter, compared to analysts' expectations of $13.73 million.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Taylor Devices by 3,746.2% in the first quarter. GAMMA Investing LLC now owns 1,000 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 974 shares during the period. Tower Research Capital LLC TRC raised its position in Taylor Devices by 253.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 727 shares during the period. Rhumbline Advisers raised its position in Taylor Devices by 24.8% in the first quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company's stock valued at $76,000 after purchasing an additional 468 shares during the period. Bank of America Corp DE increased its position in shares of Taylor Devices by 16.3% during the second 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 period. Finally, Barclays PLC increased its position in shares of Taylor Devices by 33.9% during the fourth quarter. Barclays PLC now owns 4,588 shares of the industrial products company's stock worth $191,000 after acquiring an additional 1,162 shares during the period. 17.62% of the stock is currently owned by institutional investors and hedge funds.

Taylor Devices Company Profile

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.