Taylor Devices (NASDAQ:TAYD) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Taylor Devices, Inc. (NASDAQ:TAYD)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $64.35 and traded as low as $55.33. Taylor Devices shares last traded at $59.47, with a volume of 129,974 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TAYD shares. Weiss Ratings downgraded Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Wall Street Zen raised shares of Taylor Devices from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Taylor Devices Stock Performance

The business has a 50 day moving average of $53.88 and a two-hundred day moving average of $64.49. The firm has a market capitalization of $185.25 million, a price-to-earnings ratio of 17.43 and a beta of 0.94.

Taylor Devices (NASDAQ:TAYD) last released its quarterly earnings data on Tuesday, March 31st. The industrial products company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Taylor Devices had a return on equity of 15.77% and a net margin of 21.52%.The firm had revenue of $11.17 million during the quarter, compared to the consensus estimate of $13.18 million.

Insider Transactions at Taylor Devices

In other Taylor Devices news, Director Robert Michael Carey sold 5,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $56.73, for a total transaction of $283,650.00. Following the completion of the sale, the director owned 7,721 shares in the company, valued at approximately $438,012.33. The trade was a 39.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 8.88% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Rhumbline Advisers grew its holdings 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 buying an additional 468 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Taylor Devices by 29.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 21,300 shares of the industrial products company’s stock worth $924,000 after acquiring an additional 4,888 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Taylor Devices by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 399 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Taylor Devices in the 2nd quarter valued at about $4,361,000. Finally, Bank of America Corp DE lifted its position 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. 17.62% of the stock is owned by institutional investors.

About Taylor Devices

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.