Taylor Devices (NASDAQ:TAYD) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Shares of Taylor Devices, Inc. (NASDAQ:TAYD) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $64.35 and traded as low as $55.33. Taylor Devices shares last traded at $59.47, with a volume of 129,974 shares.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings lowered shares of Taylor Devices from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 6th. Wall Street Zen raised Taylor Devices from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Taylor Devices Trading Up 7.7%

The stock’s fifty day moving average price is $53.63 and its 200 day moving average price is $64.35. The stock has a market cap of $191.49 million, a P/E ratio of 18.02 and a beta of 0.94.

Taylor Devices (NASDAQ:TAYD) last issued its quarterly earnings results on Tuesday, March 31st. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Taylor Devices had a net margin of 21.52% and a return on equity of 15.77%. The company had revenue of $11.17 million during the quarter, compared to analyst estimates of $13.18 million.

Insider Buying and Selling

In other Taylor Devices news, Director Robert Michael Carey sold 5,000 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $56.73, for a total transaction of $283,650.00. Following the completion of the sale, the director directly owned 7,721 shares in the company, valued at $438,012.33. The trade was a 39.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.88% of the company’s stock.

Institutional Investors Weigh In On Taylor Devices

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in Taylor Devices by 6.9% during the first quarter. Bank of America Corp DE now owns 5,739 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 368 shares during the period. Lazard Asset Management LLC bought a new position in shares of Taylor Devices in the first quarter worth about $230,000. Renaissance Technologies LLC grew its position in shares of Taylor Devices by 12.5% during the first quarter. Renaissance Technologies LLC now owns 49,662 shares of the industrial products company’s stock worth $2,831,000 after purchasing an additional 5,500 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Taylor Devices by 84.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 47,198 shares of the industrial products company’s stock worth $2,690,000 after purchasing an additional 21,590 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in Taylor Devices during the 1st quarter valued at approximately $943,000. 17.62% of the stock is owned by hedge funds and other institutional investors.

Taylor Devices Company Profile

Taylor Devices, Inc is an engineering firm headquartered in North Tonawanda, New York, specializing in the design, development and manufacture of motion control products and engineered fluid-handling devices. The company’s core focus is on providing high-performance hydraulic dampers, fluid springs (also known as gas springs), shock absorbers and hydraulic accumulators that are used to manage energy and motion in a wide range of industrial and structural applications.

The company’s product portfolio includes industrial shock absorbers designed to cushion and decelerate moving parts in manufacturing and test-and-measurement systems, fluid viscous dampers for seismic protection of buildings and bridges, and fluid spring devices that combine the properties of a gas spring and a hydraulic damper.