Taylor Devices (NASDAQ:TAYD) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Taylor Devices (NASDAQ:TAYD) posted its earnings results on Tuesday. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02, FiscalAI reports. The company had revenue of $11.17 million during the quarter, compared to analysts’ expectations of $13.18 million. Taylor Devices had a net margin of 20.75% and a return on equity of 15.75%.

Taylor Devices Stock Performance

Taylor Devices stock opened at $72.09 on Tuesday. The stock has a market capitalization of $227.08 million, a price-to-earnings ratio of 22.89 and a beta of 0.93. The stock’s 50 day moving average price is $79.00 and its two-hundred day moving average price is $61.16. Taylor Devices has a 52-week low of $29.50 and a 52-week high of $90.37.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TAYD shares. Freedom Capital cut shares of Taylor Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Wall Street Zen upgraded Taylor Devices from a “hold” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Finally, Weiss Ratings upgraded Taylor Devices from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TAYD. Royal Bank of Canada increased its position 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 buying an additional 300 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Taylor Devices by 253.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 727 shares during the period. Rhumbline Advisers increased its position in shares of Taylor Devices by 24.8% during the first quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock valued at $76,000 after buying an additional 468 shares during the period. Bank of America Corp DE lifted its holdings in shares of Taylor Devices by 16.3% in the second quarter. Bank of America Corp DE now owns 2,153 shares of the industrial products company’s stock worth $93,000 after buying an additional 301 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in shares of Taylor Devices in the third quarter worth $205,000. Institutional investors 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.