Taylor Devices (NASDAQ:TAYD) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Taylor Devices, Inc. (NASDAQ:TAYD - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $49.26 and traded as high as $52.99. Taylor Devices shares last traded at $47.58, with a volume of 70,211 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Taylor Devices from a "buy" rating to a "strong-buy" rating in a research report on Friday.

Taylor Devices Trading Up 3.4 %

The firm's fifty day moving average price is $51.49 and its two-hundred day moving average price is $49.25. The stock has a market capitalization of $153.44 million, a PE ratio of 16.96 and a beta of 1.04.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last issued its quarterly earnings data on Friday, September 27th. The industrial products company reported $0.85 earnings per share for the quarter. Taylor Devices had a net margin of 21.22% and a return on equity of 18.95%. The business had revenue of $11.62 million during the quarter.

Hedge Funds Weigh In On Taylor Devices

A number of hedge funds have recently bought and sold shares of the business. Rhumbline Advisers purchased a new stake in shares of Taylor Devices in the second quarter valued at approximately $86,000. LSV Asset Management purchased a new stake in Taylor Devices in the 1st quarter worth $119,000. Bank of New York Mellon Corp acquired a new position in Taylor Devices during the second quarter worth $286,000. Ritholtz Wealth Management lifted its holdings in Taylor Devices by 123.9% during the second quarter. Ritholtz Wealth Management now owns 9,220 shares of the industrial products company's stock valued at $415,000 after purchasing an additional 5,103 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Taylor Devices in the first quarter valued at about $488,000. Hedge funds and other institutional investors own 17.62% of the company's stock.

Taylor Devices Company Profile

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.