Taylor Devices (NASDAQ:TAYD) Cut to Buy at StockNews.com

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

Taylor Devices Stock Down 3.4 %

Taylor Devices stock traded down $1.63 during mid-day trading on Thursday, reaching $47.02. The company had a trading volume of 18,159 shares, compared to its average volume of 24,296. The company has a 50 day moving average of $52.28 and a 200-day moving average of $49.26. Taylor Devices has a 52 week low of $21.44 and a 52 week high of $64.50. The firm has a market cap of $165.56 million, a price-to-earnings ratio of 18.88 and a beta of 1.03.

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

Institutional Trading of Taylor Devices

Several large investors have recently made changes to their positions in TAYD. American Century Companies Inc. bought a new stake in shares of Taylor Devices during the second quarter worth $1,206,000. B. Riley Wealth Advisors Inc. acquired a new position in Taylor Devices during the 2nd quarter valued at about $546,000. National Wealth Management Group LLC acquired a new position in Taylor Devices during the 1st quarter valued at about $590,000. O Shaughnessy Asset Management LLC bought a new position in shares of Taylor Devices in the 1st quarter valued at about $488,000. Finally, Elkhorn Partners Limited Partnership grew its position in shares of Taylor Devices by 47.2% during the 1st quarter. Elkhorn Partners Limited Partnership now owns 26,205 shares of the industrial products company’s stock worth $1,304,000 after buying an additional 8,405 shares during the period. Institutional investors own 17.62% of the company’s stock.

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.