Wall Street Zen Upgrades Taylor Devices (NASDAQ:TAYD) to "Strong-Buy"

Key Points

• Taylor Devices' stock rating has been upgraded from a "hold" to a "strong-buy" by Wall Street Zen, indicating increased confidence in the company's potential.
• The company reported earnings of $1.17 per share for the most recent quarter, significantly surpassing analysts' expectations of $0.67 per share.
• Institutional investors have been actively increasing their stakes in Taylor Devices, with notable increases such as GAMMA Investing LLC's holdings rising by 3,746.2% in the first quarter.

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

Taylor Devices Stock Down 2.0%

TAYD traded down $0.90 on Friday, reaching $44.10. 5,118 shares of the company traded hands, compared to its average volume of 11,106. Taylor Devices has a one year low of $29.50 and a one year high of $64.50. The firm has a fifty day simple moving average of $43.62 and a two-hundred day simple moving average of $36.94. The company has a market cap of $138.92 million, a P/E ratio of 14.70 and a beta of 0.89.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last announced its quarterly earnings data on Friday, August 15th. The industrial products company reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.50. Taylor Devices had a net margin of 20.33% and a return on equity of 16.40%. The company had revenue of $15.56 million during the quarter, compared to analyst estimates of $13.73 million.

Institutional Investors Weigh In On Taylor Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in shares of Taylor Devices by 16.3% in 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. First Trust Advisors LP raised its holdings in shares of Taylor Devices by 4.1% in 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. Rhumbline Advisers raised its holdings in shares of Taylor Devices by 24.8% in the 1st 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 in the last quarter. Courier Capital LLC raised its holdings in shares of Taylor Devices by 1.0% in the 1st quarter. Courier Capital LLC now owns 48,221 shares of the industrial products company's stock valued at $1,556,000 after purchasing an additional 500 shares in the last quarter. Finally, De Lisle Partners LLP raised its holdings in shares of Taylor Devices by 1.4% in the 2nd quarter. De Lisle Partners LLP now owns 42,876 shares of the industrial products company's stock valued at $1,881,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 17.62% of the company's stock.

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.