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

StockNews.com upgraded shares of Taylor Devices (NASDAQ:TAYD) from a hold rating to a buy rating in a research note published on Monday morning.

Taylor Devices Stock Performance

Shares of NASDAQ TAYD opened at $45.83 on Monday. The firm’s 50 day moving average price is $53.14 and its 200 day moving average price is $49.56. The firm has a market cap of $142.99 million, a P/E ratio of 18.41 and a beta of 1.03. Taylor Devices has a 1 year low of $20.50 and a 1 year high of $64.50.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. American Century Companies Inc. acquired a new stake in Taylor Devices during the 2nd quarter worth approximately $1,206,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Taylor Devices in the 2nd quarter valued at $546,000. National Wealth Management Group LLC acquired a new position in shares of Taylor Devices during the 1st quarter valued at $590,000. O Shaughnessy Asset Management LLC purchased a new stake in Taylor Devices during the 1st quarter worth $488,000. Finally, Elkhorn Partners Limited Partnership raised its position in Taylor Devices by 47.2% in the first quarter. Elkhorn Partners Limited Partnership now owns 26,205 shares of the industrial products company’s stock valued at $1,304,000 after purchasing an additional 8,405 shares during the period. 17.62% of the stock is currently owned by hedge funds and other institutional investors.

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.