Taylor Devices (NASDAQ:TAYD) Stock Rating Upgraded by Zacks Research

Taylor Devices (NASDAQ:TAYD) was upgraded by Zacks Research to a “hold” rating in a report issued on Thursday, Zacks reports.

TAYD has been the subject of a number of other research reports. Freedom Broker raised shares of Taylor Devices from a “hold” rating to a “buy” rating and increased their price objective for the stock from $67.00 to $70.00 in a research report on Thursday, August 20th. Freedom Capital raised Taylor Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. Wall Street Zen cut Taylor Devices from a “buy” rating to a “hold” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings lowered Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

Taylor Devices Price Performance

Shares of TAYD stock opened at $54.97 on Thursday. The firm has a market cap of $177.28 million, a PE ratio of 20.90 and a beta of 0.94. The company has a 50-day moving average of $58.12 and a two-hundred day moving average of $57.31. Taylor Devices has a 1-year low of $40.50 and a 1-year high of $90.37.

Taylor Devices (NASDAQ:TAYD) last released its quarterly earnings results on Friday, October 2nd. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.78). The company had revenue of $7.30 million during the quarter, compared to analysts’ expectations of $13.10 million. Taylor Devices had a net margin of 20.56% and a return on equity of 12.49%. Sell-side analysts anticipate that Taylor Devices will post 3.61 EPS for the current fiscal year.

Institutional Trading of Taylor Devices

Hedge funds have recently made changes to their positions in the business. Deutsche Bank AG purchased a new position in shares of Taylor Devices in the second quarter valued at approximately $189,000. Lazard Asset Management LLC purchased a new stake in Taylor Devices during the 1st quarter worth approximately $230,000. Hillsdale Investment Management Inc. purchased a new stake in Taylor Devices during the 1st quarter worth approximately $251,000. Bank of America Corp DE lifted its holdings in Taylor Devices by 6.9% during the 1st quarter. Bank of America Corp DE now owns 5,739 shares of the industrial products company’s stock worth $327,000 after buying an additional 368 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Taylor Devices during the 2nd quarter worth approximately $403,000. Institutional investors and hedge funds own 17.62% of the company’s stock.

About Taylor Devices

Taylor Devices, Inc (NASDAQ: TAYD) designs and manufactures specialized shock absorption, vibration isolation and structural protection products. Its engineered systems are used to control motion, dissipate energy and protect people, equipment and structures from impacts, vibration, seismic activity and other dynamic forces.

The company’s product portfolio includes hydraulic shock absorbers, fluid viscous dampers, seismic dampers, isolation systems and other custom-engineered energy-management devices.