Taylor Devices (NASDAQ:TAYD) Upgraded at StockNews.com

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

Taylor Devices Stock Performance

Shares of TAYD opened at $47.24 on Monday. Taylor Devices has a 52 week low of $20.50 and a 52 week high of $64.50. The stock has a market capitalization of $147.39 million, a price-to-earnings ratio of 18.97 and a beta of 1.03. The stock has a fifty day moving average of $53.14 and a 200-day moving average of $49.59.

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

Hedge Funds Weigh In On Taylor Devices

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers bought a new position in shares of Taylor Devices during the second quarter worth about $86,000. LSV Asset Management acquired a new stake in Taylor Devices during the 1st quarter valued at approximately $119,000. Bank of New York Mellon Corp bought a new position in Taylor Devices during the 2nd quarter worth approximately $286,000. Ritholtz Wealth Management lifted its position in shares of Taylor Devices by 123.9% in the 2nd quarter. Ritholtz Wealth Management now owns 9,220 shares of the industrial products company’s stock worth $415,000 after purchasing an additional 5,103 shares during the period. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Taylor Devices in the 1st quarter worth approximately $488,000. 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.