Taylor Devices (NASDAQ:TAYD) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Taylor Devices (NASDAQ:TAYD) from a buy rating to a hold rating in a research report report published on Saturday.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Taylor Devices in a report on Monday, December 1st. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Taylor Devices Stock Down 1.4%

NASDAQ:TAYD opened at $47.53 on Friday. The company’s 50-day moving average price is $45.56 and its two-hundred day moving average price is $44.36. Taylor Devices has a 12 month low of $29.50 and a 12 month high of $53.73. The firm has a market cap of $149.72 million, a PE ratio of 16.68 and a beta of 0.97.

Taylor Devices (NASDAQ:TAYD) last announced its quarterly earnings data on Wednesday, October 1st. The industrial products company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $9.92 million during the quarter, compared to the consensus estimate of $13.10 million. Taylor Devices had a net margin of 20.04% and a return on equity of 14.90%.

Institutional Investors Weigh In On Taylor Devices

Several hedge funds have recently bought and sold shares of TAYD. Susquehanna International Group LLP acquired a new position in shares of Taylor Devices in the third quarter valued at approximately $742,000. Qube Research & Technologies Ltd bought a new stake in Taylor Devices in the 3rd quarter valued at $214,000. Punch & Associates Investment Management Inc. grew its holdings in Taylor Devices by 2.7% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 51,325 shares of the industrial products company’s stock valued at $2,518,000 after buying an additional 1,325 shares in the last quarter. Citadel Advisors LLC bought a new position in Taylor Devices during the 3rd quarter worth $335,000. Finally, Bank of America Corp DE lifted its holdings in shares of Taylor Devices by 205.9% during the third quarter. Bank of America Corp DE now owns 6,585 shares of the industrial products company’s stock worth $323,000 after buying an additional 4,432 shares in the last quarter. 17.62% of the stock is currently owned by institutional investors and hedge funds.

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.