Taylor Devices (NASDAQ:TAYD) Downgraded to Buy Rating by StockNews.com

StockNews.com lowered shares of Taylor Devices (NASDAQ:TAYD) from a strong-buy rating to a buy rating in a research note published on Thursday.

Taylor Devices Stock Performance

TAYD opened at $47.02 on Thursday. Taylor Devices has a fifty-two week low of $21.44 and a fifty-two week high of $64.50. The company has a fifty day moving average of $52.28 and a two-hundred day moving average of $49.26. The stock has a market capitalization of $146.70 million, a price-to-earnings ratio of 16.21 and a beta of 1.03.

Taylor Devices (NASDAQ:TAYD) last released its quarterly earnings data on Friday, September 27th. The industrial products company reported $0.85 earnings per share for the quarter. The company had revenue of $11.62 million during the quarter. Taylor Devices had a net margin of 21.22% and a return on equity of 18.95%.

Institutional Trading of Taylor Devices

A number of institutional investors and hedge funds have recently modified their holdings of TAYD. Rhumbline Advisers purchased a new stake in shares of Taylor Devices during the second quarter worth about $86,000. LSV Asset Management purchased a new stake in shares of Taylor Devices during the first quarter worth about $119,000. Bank of New York Mellon Corp purchased a new stake in shares of Taylor Devices during the second quarter worth about $286,000. Ritholtz Wealth Management increased its stake in shares of Taylor Devices by 123.9% during the second quarter. Ritholtz Wealth Management now owns 9,220 shares of the industrial products company’s stock worth $415,000 after purchasing an additional 5,103 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Taylor Devices during the first quarter worth about $488,000. Hedge funds and other institutional investors own 17.62% of the company’s stock.

About Taylor Devices

Taylor Devices, Inc engages in design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic dampers that are designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers primarily used in defense, aerospace, and commercial industries; and crane and industrial buffers, which are larger versions of the Fluidicshoks for industrial application on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys, and train car stops.