Taylor Devices’ (TAYD) Hold Rating Reiterated at Freedom Broker

Taylor Devices (NASDAQ:TAYD)‘s stock had its “hold” rating reissued by investment analysts at Freedom Broker in a report issued on Tuesday, Benzinga reports. They presently have a $65.00 price objective on the industrial products company’s stock, down from their previous price objective of $70.00. Freedom Broker’s price objective would suggest a potential upside of 14.22% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Freedom Capital upgraded Taylor Devices from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 20th. Wall Street Zen lowered shares of Taylor Devices from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Zacks Research raised shares of Taylor Devices to a “hold” rating in a research report on Thursday, October 1st. Finally, Weiss Ratings cut shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.00.

Taylor Devices Stock Performance

TAYD traded down $3.02 during trading on Tuesday, hitting $56.91. 63,064 shares of the stock were exchanged, compared to its average volume of 44,108. The firm has a 50 day simple moving average of $58.79 and a 200 day simple moving average of $56.60. The firm has a market cap of $183.82 million, a price-to-earnings ratio of 27.49 and a beta of 0.94. Taylor Devices has a 1 year low of $40.50 and a 1 year high of $90.37.

Taylor Devices (NASDAQ:TAYD) last posted its earnings results on Friday, October 2nd. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.78). Taylor Devices had a net margin of 17.50% and a return on equity of 9.64%. The company had revenue of $7.30 million during the quarter, compared to analysts’ expectations of $13.10 million. As a group, equities analysts anticipate that Taylor Devices will post 3.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Taylor Devices

Several hedge funds have recently made changes to their positions in TAYD. BlackRock Inc. purchased a new stake in Taylor Devices during the 2nd quarter valued at about $10,438,000. Martin & Co. Inc. TN purchased a new position in shares of Taylor Devices in the second quarter worth about $3,415,000. Renaissance Technologies LLC lifted its holdings in shares of Taylor Devices by 12.5% during the first quarter. Renaissance Technologies LLC now owns 49,662 shares of the industrial products company’s stock worth $2,831,000 after purchasing an additional 5,500 shares during the period. De Lisle Partners LLP purchased a new stake in Taylor Devices in the second quarter valued at approximately $2,699,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Taylor Devices by 84.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 47,198 shares of the industrial products company’s stock valued at $2,690,000 after buying an additional 21,590 shares during the last quarter. 17.62% of the stock is owned by institutional investors and hedge funds.

About Taylor Devices

Taylor Devices, Inc (NASDAQ:TAYD) designs and manufactures shock absorption, vibration isolation and energy storage products for specialized engineering applications. Its products are used to control motion, manage impact forces and protect structures, equipment and personnel in demanding operating environments.

The company’s offerings include seismic dampers and restraints, fluid viscous dampers, structural protection systems, shock absorbers, vibration isolation systems, custom actuators and mechanical and fluid-based energy storage devices.