Taylor Devices (NASDAQ:TAYD) Raised to “Buy” at Wall Street Zen

Taylor Devices (NASDAQ:TAYD) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

Separately, Weiss Ratings downgraded Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Taylor Devices currently has an average rating of “Hold”.

Taylor Devices Trading Up 2.3%

NASDAQ:TAYD opened at $55.45 on Friday. The stock has a market cap of $178.55 million, a P/E ratio of 16.80 and a beta of 0.92. The stock has a 50 day simple moving average of $54.93 and a 200 day simple moving average of $64.22. Taylor Devices has a 1-year low of $40.50 and a 1-year high of $90.37.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TAYD. Royal Bank of Canada boosted its stake in shares of Taylor Devices by 68.2% in the fourth quarter. Royal Bank of Canada now owns 740 shares of the industrial products company’s stock valued at $43,000 after buying an additional 300 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 valued at $44,000 after acquiring an additional 727 shares in the last quarter. 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 valued at $76,000 after acquiring an additional 468 shares in the last quarter. 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 valued at $93,000 after acquiring an additional 301 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Taylor Devices during the 3rd quarter valued at $205,000. 17.62% of the stock is owned by institutional investors.

Taylor Devices Company Profile

Taylor Devices, Inc is an engineering firm headquartered in North Tonawanda, New York, specializing in the design, development and manufacture of motion control products and engineered fluid-handling devices. The company’s core focus is on providing high-performance hydraulic dampers, fluid springs (also known as gas springs), shock absorbers and hydraulic accumulators that are used to manage energy and motion in a wide range of industrial and structural applications.

The company’s product portfolio includes industrial shock absorbers designed to cushion and decelerate moving parts in manufacturing and test-and-measurement systems, fluid viscous dampers for seismic protection of buildings and bridges, and fluid spring devices that combine the properties of a gas spring and a hydraulic damper.