Taylor Devices (NASDAQ:TAYD) Stock Rating Lowered by Freedom Capital

Taylor Devices (NASDAQ:TAYD) was downgraded by research analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Weiss Ratings upgraded Taylor Devices from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday. Wall Street Zen raised shares of Taylor Devices from a “hold” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Taylor Devices Stock Up 1.9%

TAYD stock traded up $1.35 during mid-day trading on Monday, hitting $73.33. 18,030 shares of the company were exchanged, compared to its average volume of 37,028. Taylor Devices has a 12-month low of $29.50 and a 12-month high of $74.00. The firm has a market capitalization of $230.97 million, a P/E ratio of 23.37 and a beta of 0.97. The business has a fifty day simple moving average of $54.52 and a 200-day simple moving average of $48.71.

Taylor Devices (NASDAQ:TAYD) last posted its earnings results on Wednesday, December 31st. The industrial products company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.11. Taylor Devices had a net margin of 20.75% and a return on equity of 15.75%. The firm had revenue of $11.60 million during the quarter, compared to the consensus estimate of $10.40 million.

Institutional Investors Weigh In On Taylor Devices

Several institutional investors have recently modified their holdings of TAYD. Ameriprise Financial Inc. purchased a new position in Taylor Devices in the second quarter valued at $4,361,000. RBF Capital LLC purchased a new position in shares of Taylor Devices in the 2nd quarter valued at about $1,085,000. Martin & Co. Inc. TN acquired a new stake in shares of Taylor Devices during the 2nd quarter worth about $817,000. Susquehanna International Group LLP acquired a new stake in shares of Taylor Devices during the 3rd quarter worth about $742,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Taylor Devices during the second quarter worth approximately $304,000. 17.62% of the stock is owned by hedge funds and other institutional investors.

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.