Taylor Devices (NASDAQ:TAYD) Downgraded by StockNews.com to Buy

StockNews.com downgraded shares of Taylor Devices (NASDAQ:TAYD) from a strong-buy rating to a buy rating in a research note published on Monday morning.

Taylor Devices Price Performance

NASDAQ TAYD opened at $47.26 on Monday. The stock has a market capitalization of $166.36 million, a price-to-earnings ratio of 18.98 and a beta of 1.03. Taylor Devices has a one year low of $18.06 and a one year high of $61.69. The business’s fifty day moving average is $47.65 and its 200-day moving average is $40.09.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TAYD. Janney Montgomery Scott LLC grew its holdings in shares of Taylor Devices by 0.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 135,222 shares of the industrial products company’s stock worth $2,992,000 after purchasing an additional 500 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Taylor Devices by 6.7% during the first quarter. Vanguard Group Inc. now owns 56,441 shares of the industrial products company’s stock worth $2,809,000 after purchasing an additional 3,561 shares in the last quarter. Elkhorn Partners Limited Partnership grew its holdings in shares of Taylor Devices by 47.2% during the first quarter. Elkhorn Partners Limited Partnership now owns 26,205 shares of the industrial products company’s stock worth $1,304,000 after purchasing an additional 8,405 shares in the last quarter. National Wealth Management Group LLC purchased a new position in shares of Taylor Devices during the first quarter worth about $590,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Taylor Devices during the first quarter worth about $488,000. Hedge funds and other institutional investors 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.