Taylor Devices (NASDAQ:TAYD) Stock Rating Lowered by Wall Street Zen

Taylor Devices (NASDAQ:TAYD) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Separately, Weiss Ratings cut shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Taylor Devices Price Performance

Shares of TAYD opened at $54.67 on Friday. The business’s 50 day moving average is $54.41 and its two-hundred day moving average is $64.55. Taylor Devices has a 52-week low of $40.50 and a 52-week high of $90.37. The firm has a market cap of $176.04 million, a price-to-earnings ratio of 16.57 and a beta of 0.92.

Insider Transactions at Taylor Devices

In other Taylor Devices news, Director Robert Michael Carey sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $56.73, for a total transaction of $283,650.00. Following the sale, the director owned 7,721 shares in the company, valued at $438,012.33. This represents a 39.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 8.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TAYD. Renaissance Technologies LLC raised its position in shares of Taylor Devices by 12.5% during 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. Sei Investments Co. bought a new position in Taylor Devices during the first quarter worth $943,000. Royal Bank of Canada boosted its holdings in Taylor Devices by 68.2% in the fourth quarter. Royal Bank of Canada now owns 740 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 300 shares during the period. Two Sigma Investments LP acquired a new position in Taylor Devices in the third quarter worth $205,000. Finally, Tower Research Capital LLC TRC increased its stake in Taylor Devices by 253.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 727 shares during the last quarter. Institutional investors and hedge funds own 17.62% of the company’s stock.

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.