StockNews.com Upgrades Taylor Devices (NASDAQ:TAYD) to Strong-Buy

Taylor Devices (NASDAQ:TAYD) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

Taylor Devices Trading Down 7.7 %

Shares of NASDAQ:TAYD opened at $42.31 on Tuesday. The company has a 50 day moving average of $53.08 and a 200 day moving average of $49.68. The stock has a market cap of $148.97 million, a P/E ratio of 16.99 and a beta of 1.03. Taylor Devices has a 12 month low of $20.50 and a 12 month high of $64.50.

Taylor Devices (NASDAQ:TAYD) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $0.67 earnings per share for the quarter. The firm had revenue of $12.07 million for the quarter. Taylor Devices had a net margin of 21.22% and a return on equity of 18.95%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TAYD. Rhumbline Advisers bought a new stake in Taylor Devices during the second quarter valued at approximately $86,000. LSV Asset Management bought a new stake in shares of Taylor Devices during the 1st quarter worth $119,000. Bank of New York Mellon Corp purchased a new position in Taylor Devices in the second quarter worth $286,000. Ritholtz Wealth Management increased its stake in Taylor Devices by 123.9% in the second quarter. Ritholtz Wealth Management now owns 9,220 shares of the industrial products company’s stock valued at $415,000 after acquiring an additional 5,103 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Taylor Devices during the first quarter valued at about $488,000. 17.62% of the stock is currently owned by institutional investors.

Taylor Devices Company Profile

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.