Taylor Devices (NASDAQ:TAYD) Upgraded by StockNews.com to "Strong-Buy" Rating

Taylor Devices (NASDAQ:TAYD - Get Free Report) was upgraded by research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued on Friday.

Taylor Devices Stock Performance

Taylor Devices stock traded up $1.60 during midday trading on Friday, reaching $49.18. 18,112 shares of the company's stock were exchanged, compared to its average volume of 24,478. Taylor Devices has a 52 week low of $21.57 and a 52 week high of $64.50. The stock's 50-day simple moving average is $51.49 and its 200 day simple moving average is $49.25. The firm has a market cap of $153.44 million, a price-to-earnings ratio of 16.96 and a beta of 1.04.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last announced its earnings results on Friday, September 27th. The industrial products company reported $0.85 EPS 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.

Institutional Trading of Taylor Devices

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers bought a new position in Taylor Devices during the 2nd quarter worth $86,000. LSV Asset Management bought a new stake in Taylor Devices during the first quarter worth $119,000. Bank of New York Mellon Corp bought a new position in shares of Taylor Devices in the 2nd quarter valued at $286,000. Ritholtz Wealth Management lifted its position in shares of Taylor Devices by 123.9% during the 2nd quarter. Ritholtz Wealth Management now owns 9,220 shares of the industrial products company's stock worth $415,000 after buying an additional 5,103 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new stake in Taylor Devices in the first quarter valued at about $488,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.