Taylor Devices (NASDAQ:TAYD) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Taylor Devices, Inc. (NASDAQ:TAYD)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $64.35 and traded as low as $55.33. Taylor Devices shares last traded at $59.47, with a volume of 129,974 shares traded.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings lowered Taylor Devices from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 6th. Wall Street Zen upgraded Taylor Devices from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Taylor Devices Price Performance

The firm has a market cap of $191.49 million, a P/E ratio of 18.02 and a beta of 0.94. The company’s 50-day simple moving average is $53.63 and its 200 day simple moving average is $64.35.

Taylor Devices (NASDAQ:TAYD) last announced its earnings results on Tuesday, March 31st. The industrial products company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $11.17 million during the quarter, compared to analysts’ expectations of $13.18 million. Taylor Devices had a return on equity of 15.77% and a net margin of 21.52%.

Insider Buying and Selling

In related news, Director Robert Michael Carey sold 5,000 shares of Taylor Devices stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $56.73, for a total transaction of $283,650.00. Following the completion of the sale, the director owned 7,721 shares in the company, valued at $438,012.33. This trade represents a 39.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Taylor Devices

A number of institutional investors have recently modified their holdings of TAYD. GSA Capital Partners LLP acquired a new stake in Taylor Devices in the third quarter valued at approximately $292,000. Lazard Asset Management LLC purchased a new position in Taylor Devices in the first quarter worth $230,000. Renaissance Technologies LLC increased its position 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 in the last quarter. Sei Investments Co. acquired a new position in shares of Taylor Devices during the first quarter worth $943,000. Finally, Royal Bank of Canada lifted its holdings in shares of Taylor Devices by 68.2% during the 4th quarter. Royal Bank of Canada now owns 740 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 300 shares during the last quarter. 17.62% of the stock is owned by hedge funds and other institutional investors.

About Taylor Devices

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.