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

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

Taylor Devices Trading Up 2.5 %

Taylor Devices stock opened at $48.18 on Thursday. The company has a fifty day simple moving average of $52.22 and a 200-day simple moving average of $49.27. The stock has a market cap of $150.32 million, a P/E ratio of 16.61 and a beta of 1.04. Taylor Devices has a 12-month low of $21.50 and a 12-month high of $64.50.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TAYD. LSV Asset Management acquired a new stake in Taylor Devices during the 1st quarter worth $119,000. Vanguard Group Inc. lifted its holdings in shares of Taylor Devices by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 56,441 shares of the industrial products company’s stock valued at $2,809,000 after purchasing an additional 3,561 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Taylor Devices in the 1st quarter valued at about $488,000. Elkhorn Partners Limited Partnership boosted its position in shares of Taylor Devices by 47.2% in the 1st quarter. Elkhorn Partners Limited Partnership now owns 26,205 shares of the industrial products company’s stock valued at $1,304,000 after purchasing an additional 8,405 shares during the period. Finally, National Wealth Management Group LLC purchased a new position in Taylor Devices during the 1st quarter worth approximately $590,000. Institutional investors and hedge funds own 17.62% of the company’s stock.

Taylor Devices Company Profile

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.