Taylor Devices (NASDAQ:TAYD) stock price is above its 200-day moving average of $39.86

Taylor Devices, Inc. (NASDAQ:TAYD – Get Free Report) stock price broke above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $39.86 and was trading as high as $45.68. Taylor Devices stock was last trading at $44.98 on volume of 310,784 shares.

Analysts set new target prices

Separately, StockNews.com downgraded Taylor Devices from a “strong buy” to a “buy” in a research report on Tuesday, April 9.

Check out our latest analysis on TAYD

Taylor equipment sales up 7.2%

The company’s market capitalization is $158.33 million, its PE ratio is 18.06 and its beta is 1.01. The company has a 50-day moving average price of $47.65 and a 200-day moving average price of $39.86.

Taylor Devices (NASDAQ:TAYD – Get Free Report) last released its earnings results on Thursday, March 28th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter. The company’s revenue was $12.25 million for the quarter. Taylor Devices had a return on equity of 16.84% and a net margin of 19.87%.

Hedge funds influence Taylor’s devices

Several hedge funds have recently bought and sold TAYD stock. LSV Asset Management purchased a new position in Taylor Devices during the first quarter worth approximately $119,000. Johnson Bixby & Associates LLC bought a new position in Taylor Devices during the first quarter valued at $373,000. About Shaughnessy Asset Management LLC purchased a new position in Taylor Devices during the first quarter valued at $488,000. National Wealth Management Group LLC bought a new position in Taylor Devices during the first quarter valued at $590,000. Finally, Elkhorn Partners Limited Partnership increased its position in Taylor Devices by 47.2% in the first quarter. Elkhorn Partners Limited Partnership now owns 26,205 shares of the industrial products company’s stock valued at $1,304,000 after purchasing an additional 8,405 shares in the last quarter. 17.62% of the shares belong to hedge funds and other institutional investors.

About Taylor devices

(Download the free report)

Taylor Devices, Inc. is engaged in the design, development, manufacturing, and marketing of shock absorption, velocity control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic shock absorbers designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers used primarily in the defense, aerospace, and commercial industries; and crane and industrial bumpers, which are larger versions of Fluidicshoks for industrial applications in cranes and hoists, truck docks, ladle and moldboard carts, ore carts, and rail car stops.

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