Taylor Devices (NASDAQ:TAYD) Rating Increased to Strong-Buy at Freedom Capital

Freedom Capital upgraded shares of Taylor Devices (NASDAQ:TAYD) from a hold rating to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Weiss Ratings downgraded Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Wall Street Zen downgraded Taylor Devices from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Taylor Devices has a consensus rating of “Buy”.

Taylor Devices Trading Up 4.9%

Shares of TAYD opened at $58.52 on Thursday. Taylor Devices has a twelve month low of $40.50 and a twelve month high of $90.37. The firm has a market capitalization of $188.43 million, a P/E ratio of 22.25 and a beta of 0.94. The firm’s 50-day moving average is $55.49 and its two-hundred day moving average is $61.96.

Taylor Devices (NASDAQ:TAYD) last posted its quarterly earnings results on Tuesday, August 18th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). The company had revenue of $8.95 million for the quarter, compared to analyst estimates of $12.80 million. Taylor Devices had a net margin of 20.56% and a return on equity of 12.49%.

Hedge Funds Weigh In On Taylor Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TAYD. Royal Bank of Canada lifted its holdings in shares of Taylor Devices by 68.2% in the fourth 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 in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Taylor Devices by 253.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 727 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Taylor Devices by 24.8% during the 1st quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 468 shares in the last quarter. Bank of America Corp DE raised its position in shares of Taylor Devices by 16.3% during the 2nd quarter. Bank of America Corp DE now owns 2,153 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 301 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Taylor Devices during the 2nd quarter worth approximately $189,000. Institutional investors and hedge funds own 17.62% of the company’s stock.

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.