Taylor Devices (NASDAQ:TAYD) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Taylor Devices (NASDAQ:TAYD) from a buy rating to a strong-buy rating in a research note released on Friday.

Taylor Devices Stock Performance

NASDAQ TAYD opened at $49.18 on Friday. The company has a market capitalization of $153.44 million, a P/E ratio of 16.96 and a beta of 1.04. Taylor Devices has a one year low of $21.57 and a one year high of $64.50. The stock has a 50 day moving average price of $51.49 and a 200-day moving average price of $49.22.

Taylor Devices (NASDAQ:TAYD) last released its earnings results on Friday, September 27th. The industrial products company reported $0.85 earnings per share for the quarter. Taylor Devices had a return on equity of 18.95% and a net margin of 21.22%. The business had revenue of $11.62 million for the quarter.

Institutional Investors Weigh In On Taylor Devices

Institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its holdings in shares of Taylor Devices by 0.6% during the third quarter. Janney Montgomery Scott LLC now owns 134,981 shares of the industrial products company’s stock worth $6,738,000 after purchasing an additional 871 shares during the period. Vanguard Group Inc. raised its position in Taylor Devices by 6.7% during the first quarter. Vanguard Group Inc. now owns 56,441 shares of the industrial products company’s stock valued at $2,809,000 after acquiring an additional 3,561 shares in the last quarter. Courier Capital LLC raised its position in Taylor Devices by 14.3% during the second quarter. Courier Capital LLC now owns 40,000 shares of the industrial products company’s stock valued at $1,799,000 after acquiring an additional 5,000 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Taylor Devices by 22.3% during the second quarter. Dimensional Fund Advisors LP now owns 32,290 shares of the industrial products company’s stock valued at $1,452,000 after acquiring an additional 5,890 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in Taylor Devices during the second quarter valued at approximately $1,206,000. Institutional investors and hedge funds 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.