Taylor Devices (NASDAQ:TAYD) Upgraded to “Buy” at StockNews.com

Taylor Devices (NASDAQ:TAYD) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Taylor Devices Trading Down 2.6 %

NASDAQ TAYD traded down $1.35 during trading hours on Monday, reaching $49.92. 73,790 shares of the company’s stock were exchanged, compared to its average volume of 25,053. The firm has a fifty day moving average of $53.21 and a 200-day moving average of $49.54. Taylor Devices has a one year low of $20.50 and a one year high of $64.50. The stock has a market cap of $155.75 million, a PE ratio of 20.05 and a beta of 1.03.

Taylor Devices (NASDAQ:TAYD) last announced its earnings results on Thursday, August 15th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter. Taylor Devices had a net margin of 20.18% and a return on equity of 17.54%. The company had revenue of $12.07 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TAYD. LSV Asset Management bought a new stake in shares of Taylor Devices in the 1st quarter valued at about $119,000. Vanguard Group Inc. raised its holdings in Taylor Devices by 6.7% in the first quarter. Vanguard Group Inc. now owns 56,441 shares of the industrial products company’s stock worth $2,809,000 after purchasing an additional 3,561 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in Taylor Devices in the first quarter worth $488,000. Bank of New York Mellon Corp bought a new position in shares of Taylor Devices during the second quarter worth $286,000. Finally, Ritholtz Wealth Management grew its holdings in shares of Taylor Devices by 123.9% in the 2nd quarter. Ritholtz Wealth Management now owns 9,220 shares of the industrial products company’s stock valued at $415,000 after buying an additional 5,103 shares during the period. Institutional investors own 17.62% of the company’s stock.

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.