Taylor Devices (NASDAQ:TAYD) Announces Quarterly Earnings Results

Taylor Devices (NASDAQ:TAYD) released its quarterly earnings results on Friday. The industrial products company reported $0.14 earnings per share for the quarter, FiscalAI reports. The company had revenue of $7.30 million during the quarter. Taylor Devices had a return on equity of 12.49% and a net margin of 20.56%.

Taylor Devices Stock Performance

NASDAQ TAYD opened at $61.11 on Friday. Taylor Devices has a one year low of $40.50 and a one year high of $90.37. The company’s 50 day moving average price is $58.11 and its 200 day moving average price is $57.32. The firm has a market capitalization of $196.77 million, a price-to-earnings ratio of 23.24 and a beta of 0.94.

Institutional Investors Weigh In On Taylor Devices

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Taylor Devices during the 2nd quarter worth $10,438,000. Martin & Co. Inc. TN purchased a new position in Taylor Devices in the second quarter valued at about $3,415,000. Renaissance Technologies LLC raised its position in Taylor Devices by 12.5% in the first quarter. Renaissance Technologies LLC now owns 49,662 shares of the industrial products company’s stock valued at $2,831,000 after purchasing an additional 5,500 shares during the period. De Lisle Partners LLP acquired a new position in shares of Taylor Devices during the second quarter worth about $2,699,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Taylor Devices by 84.3% during the first 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. Institutional investors and hedge funds own 17.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Taylor Devices from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. Freedom Broker raised Taylor Devices from a “hold” rating to a “buy” rating and lifted their price objective for the company from $67.00 to $70.00 in a research report on Thursday, August 20th. Weiss Ratings lowered Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Finally, Freedom Capital upgraded Taylor Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $70.00.

About Taylor Devices

Taylor Devices, Inc (NASDAQ: TAYD) designs and manufactures specialized shock absorption, vibration isolation and structural protection products. Its engineered systems are used to control motion, dissipate energy and protect people, equipment and structures from impacts, vibration, seismic activity and other dynamic forces.

The company’s product portfolio includes hydraulic shock absorbers, fluid viscous dampers, seismic dampers, isolation systems and other custom-engineered energy-management devices.