Wall Street Zen Downgrades Taylor Devices (NASDAQ:TAYD) to Hold

Taylor Devices (NASDAQ:TAYD) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings lowered Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Taylor Devices Trading Down 4.2%

TAYD stock opened at $54.67 on Friday. Taylor Devices has a 1-year low of $40.50 and a 1-year high of $90.37. The business’s 50 day moving average is $54.41 and its 200-day moving average is $64.53. The firm has a market cap of $176.04 million, a P/E ratio of 16.57 and a beta of 0.92.

Insider Activity at Taylor Devices

In other news, Director Robert Michael Carey sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $56.73, for a total value of $283,650.00. Following the transaction, the director directly owned 7,721 shares of the company’s stock, valued at $438,012.33. The trade was a 39.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Taylor Devices

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its stake in Taylor Devices by 68.2% in the fourth quarter. Royal Bank of Canada now owns 740 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 300 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Taylor Devices by 253.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock valued at $44,000 after buying an additional 727 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Taylor Devices by 16.3% in the second quarter. Bank of America Corp DE now owns 2,153 shares of the industrial products company’s stock valued at $93,000 after buying an additional 301 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Taylor Devices by 24.8% in the first quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock valued at $76,000 after buying an additional 468 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Taylor Devices by 621.0% in the fourth quarter. Barclays PLC now owns 3,533 shares of the industrial products company’s stock valued at $207,000 after buying an additional 3,043 shares during the last quarter. Institutional investors own 17.62% of the company’s stock.

About Taylor Devices

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.