Taylor Devices (NASDAQ:TAYD) Issues Earnings Results

Taylor Devices (NASDAQ:TAYD) issued its quarterly earnings data on Friday. The industrial products company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.78), FiscalAI reports. The firm had revenue of $7.30 million for the quarter, compared to the consensus estimate of $13.10 million. Taylor Devices had a return on equity of 12.49% and a net margin of 20.56%.

Taylor Devices Price Performance

Taylor Devices stock opened at $54.97 on Friday. The business has a 50 day moving average of $58.12 and a 200-day moving average of $57.31. The company has a market capitalization of $177.28 million, a P/E ratio of 20.90 and a beta of 0.94. Taylor Devices has a 1 year low of $40.50 and a 1 year high of $90.37.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Taylor Devices in the 2nd quarter worth about $10,438,000. Martin & Co. Inc. TN acquired a new stake in shares of Taylor Devices during the 2nd quarter worth approximately $3,415,000. Renaissance Technologies LLC increased its stake in shares of Taylor Devices by 12.5% in the 1st quarter. Renaissance Technologies LLC now owns 49,662 shares of the industrial products company’s stock valued at $2,831,000 after acquiring an additional 5,500 shares in the last quarter. De Lisle Partners LLP acquired a new position in shares of Taylor Devices during the 2nd quarter valued at $2,699,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Taylor Devices by 84.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 47,198 shares of the industrial products company’s stock worth $2,690,000 after acquiring an additional 21,590 shares in the last quarter. Institutional investors own 17.62% of the company’s stock.

Taylor Devices Company Profile

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.