Taylor Devices (NASDAQ:TAYD) Share Price Passes Above 200 Day Moving Average of $39.86

Taylor Devices, Inc. (NASDAQ:TAYD)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $39.86 and traded as high as $45.68. Taylor Devices shares last traded at $44.98, with a volume of 310,784 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com cut Taylor Devices from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 9th.

Taylor Devices Trading Up 7.2 %

The firm has a market capitalization of $158.33 million, a PE ratio of 18.06 and a beta of 1.01. The business has a 50 day moving average price of $47.65 and a 200-day moving average price of $39.86.

Taylor Devices (NASDAQ:TAYD) last issued its earnings results on Thursday, March 28th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter. The business had revenue of $12.25 million during the quarter. Taylor Devices had a return on equity of 16.84% and a net margin of 19.87%.

Hedge Funds Weigh In On Taylor Devices

Several hedge funds have recently bought and sold shares of TAYD. LSV Asset Management purchased a new position in Taylor Devices in the 1st quarter valued at approximately $119,000. Johnson Bixby & Associates LLC purchased a new position in Taylor Devices during the first quarter worth $373,000. O Shaughnessy Asset Management LLC purchased a new position in Taylor Devices during the first quarter worth $488,000. National Wealth Management Group LLC purchased a new position in Taylor Devices during the first quarter worth $590,000. Finally, Elkhorn Partners Limited Partnership increased its position in Taylor Devices by 47.2% during the first quarter. Elkhorn Partners Limited Partnership now owns 26,205 shares of the industrial products company’s stock worth $1,304,000 after buying an additional 8,405 shares in the last quarter. 17.62% of the stock is owned by hedge funds and other institutional investors.

About Taylor Devices

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.