Taylor Devices (NASDAQ:TAYD) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Taylor Devices, Inc. (NASDAQ:TAYD)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Taylor Devices from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st.

Taylor Devices Price Performance

The firm has a market capitalization of $148.45 million, a price-to-earnings ratio of 16.41 and a beta of 1.04. The business has a fifty day moving average price of $51.65 and a two-hundred day moving average price of $49.26.

Taylor Devices (NASDAQ:TAYD) last issued its quarterly earnings results 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 company had revenue of $11.62 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers purchased a new position in shares of Taylor Devices during the 2nd quarter valued at about $86,000. LSV Asset Management purchased a new position in Taylor Devices during the first quarter valued at approximately $119,000. Bank of New York Mellon Corp acquired a new position in Taylor Devices in the second quarter valued at approximately $286,000. Ritholtz Wealth Management boosted its position in Taylor Devices by 123.9% in the 2nd quarter. Ritholtz Wealth Management now owns 9,220 shares of the industrial products company’s stock worth $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 during the 1st quarter worth approximately $488,000. 17.62% of the stock is currently owned by institutional investors and hedge funds.

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.