Taylor Devices (NASDAQ:TAYD) Share Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Taylor Devices, Inc. (NASDAQ:TAYD)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $64.77 and traded as low as $57.19. Taylor Devices shares last traded at $58.68, with a volume of 32,913 shares traded.

Wall Street Analyst Weigh In

TAYD has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Taylor Devices from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings cut Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Taylor Devices Stock Down 1.2%

The company has a fifty day moving average price of $54.27 and a 200 day moving average price of $64.84. The stock has a market cap of $183.70 million, a PE ratio of 17.29 and a beta of 0.92.

Taylor Devices (NASDAQ:TAYD) last issued its 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 firm had revenue of $11.17 million for the quarter, compared to analysts’ expectations of $13.18 million.

Insider Activity

In related news, Director Robert Michael Carey sold 5,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $56.73, for a total value of $283,650.00. Following the completion of the transaction, the director directly owned 7,721 shares in the company, valued at $438,012.33. This trade represents a 39.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in Taylor Devices by 6.9% in the 1st quarter. Bank of America Corp DE now owns 5,739 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 368 shares during the period. Lazard Asset Management LLC purchased a new position in Taylor Devices in the 1st quarter worth approximately $230,000. Renaissance Technologies LLC lifted its holdings in shares of Taylor Devices by 12.5% in the first quarter. Renaissance Technologies LLC now owns 49,662 shares of the industrial products company’s stock worth $2,831,000 after buying an additional 5,500 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Taylor Devices by 84.3% in the 1st 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 position in Taylor Devices during the first quarter valued at approximately $943,000. Institutional investors own 17.62% of the company’s stock.

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.