Taylor Devices (NASDAQ:TAYD) Share Price Crosses Above 200 Day Moving Average of $32.94

Taylor Devices, Inc. (NASDAQ:TAYD)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.94 and traded as high as $53.50. Taylor Devices shares last traded at $50.60, with a volume of 12,862 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Taylor Devices from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 9th.

Taylor Devices Stock Performance

The company has a market capitalization of $178.11 million, a price-to-earnings ratio of 20.32 and a beta of 1.02. The business’s 50-day simple moving average is $45.84 and its 200-day simple moving average is $32.94.

Taylor Devices (NASDAQ:TAYD) last announced its quarterly earnings results on Thursday, March 28th. The industrial products company reported $0.82 earnings per share for the quarter. The business had revenue of $12.25 million for the quarter. Taylor Devices had a net margin of 19.87% and a return on equity of 16.84%.

Institutional Trading of Taylor Devices

A hedge fund recently raised its stake in Taylor Devices stock. Janney Montgomery Scott LLC lifted its position in Taylor Devices, Inc. (NASDAQ:TAYD) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,222 shares of the industrial products company’s stock after acquiring an additional 500 shares during the period. Janney Montgomery Scott LLC owned approximately 3.84% of Taylor Devices worth $2,992,000 at the end of the most recent quarter. 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.