Taylor Devices (NASDAQ:TAYD) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Taylor Devices, Inc. (NASDAQ:TAYD) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $43.46 and traded as high as $48.63. Taylor Devices shares last traded at $48.63, with a volume of 3,122 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on TAYD shares. Wall Street Zen cut shares of Taylor Devices from a “strong-buy” rating to a “buy” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Taylor Devices in a research report on Wednesday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Taylor Devices Price Performance

The stock has a market capitalization of $153.09 million, a PE ratio of 17.06 and a beta of 0.97. The company has a 50 day moving average price of $45.44 and a 200-day moving average price of $43.46.

Taylor Devices (NASDAQ:TAYD) last released its quarterly earnings results on Wednesday, October 1st. The industrial products company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $9.92 million for the quarter, compared to analysts’ expectations of $13.10 million. Taylor Devices had a net margin of 20.04% and a return on equity of 14.90%.

Hedge Funds Weigh In On Taylor Devices

Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new stake in Taylor Devices in the first quarter worth about $212,000. De Lisle Partners LLP lifted its stake in shares of Taylor Devices by 60.6% in 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 purchasing an additional 15,950 shares during the period. Rhumbline Advisers boosted its position in shares of Taylor Devices by 24.8% during 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 in the last quarter. Courier Capital LLC boosted its position in shares of Taylor Devices by 10.4% during the second quarter. Courier Capital LLC now owns 53,221 shares of the industrial products company’s stock valued at $2,310,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Taylor Devices in the second quarter worth $304,000. 17.62% of the stock is owned by institutional investors.

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.