Taylor Devices (NASDAQ:TAYD) Stock Rating Upgraded by Wall Street Zen

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 investment analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a research report issued on Saturday.

Taylor Devices Trading Down 0.8%

Taylor Devices stock opened at $42.57 on Friday. The company has a market capitalization of $133.67 million, a P/E ratio of 17.03 and a beta of 0.89. The firm's fifty day simple moving average is $43.08 and its 200-day simple moving average is $36.72. Taylor Devices has a 1-year low of $29.50 and a 1-year high of $64.50.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $15.56 million for the quarter, compared to the consensus estimate of $13.73 million. Taylor Devices had a net margin of 19.16% and a return on equity of 14.99%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TAYD. GAMMA Investing LLC raised its holdings in Taylor Devices by 3,746.2% in the 1st quarter. GAMMA Investing LLC now owns 1,000 shares of the industrial products company's stock worth $31,000 after acquiring an additional 974 shares during the period. Tower Research Capital LLC TRC raised its holdings in Taylor Devices by 253.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company's stock worth $44,000 after acquiring an additional 727 shares during the period. Rhumbline Advisers raised its holdings in Taylor Devices by 24.8% in the 1st quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company's stock worth $76,000 after acquiring an additional 468 shares during the period. Bank of America Corp DE raised its holdings in 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 worth $93,000 after acquiring an additional 301 shares during the period. Finally, Barclays PLC raised its holdings in Taylor Devices by 33.9% in the 4th 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. Institutional investors own 17.62% of the company's stock.

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.

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