Taylor Devices (NASDAQ:TAYD) Rating Lowered to “Hold” at Wall Street Zen

Taylor Devices (NASDAQ:TAYD) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Monday.

Separately, Weiss Ratings downgraded shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Taylor Devices Trading Up 2.3%

Shares of NASDAQ:TAYD opened at $53.70 on Monday. The stock has a market cap of $172.91 million, a PE ratio of 16.27 and a beta of 0.94. The stock’s fifty day simple moving average is $55.19 and its two-hundred day simple moving average is $63.53. Taylor Devices has a 1-year low of $40.50 and a 1-year high of $90.37.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of Taylor Devices by 6.9% during the 1st quarter. Bank of America Corp DE now owns 5,739 shares of the industrial products company’s stock worth $327,000 after acquiring an additional 368 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Taylor Devices during the first quarter worth $230,000. Renaissance Technologies LLC lifted 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 acquiring an additional 5,500 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Taylor Devices by 84.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 47,198 shares of the industrial products company’s stock worth $2,690,000 after acquiring an additional 21,590 shares during the period. Finally, Sei Investments Co. purchased a new position in shares of Taylor Devices in the first quarter valued at $943,000. Hedge funds and other institutional investors own 17.62% of the company’s stock.

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.