TAT Technologies (NASDAQ:TATT) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

TAT Technologies Ltd. (NASDAQ:TATT)’s stock price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $40.11 and traded as low as $31.70. TAT Technologies shares last traded at $32.50, with a volume of 175,426 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TATT. Benchmark restated a “buy” rating on shares of TAT Technologies in a report on Tuesday, August 25th. Weiss Ratings upgraded TAT Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. B. Riley Financial boosted their price target on shares of TAT Technologies from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, William Blair reissued a “hold” rating on shares of TAT Technologies in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, TAT Technologies currently has an average rating of “Buy” and a consensus price target of $57.86.

TAT Technologies Trading Up 2.8%

The company has a 50 day moving average of $37.84 and a 200-day moving average of $40.04. The stock has a market cap of $440.50 million, a price-to-earnings ratio of 21.18 and a beta of 1.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.61 and a current ratio of 4.83.

TAT Technologies (NASDAQ:TATT) last released its earnings results on Tuesday, August 4th. The aerospace company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. The company had revenue of $52.94 million during the quarter, compared to the consensus estimate of $44.86 million. TAT Technologies had a return on equity of 9.84% and a net margin of 11.26%. On average, research analysts anticipate that TAT Technologies Ltd. will post 1.4 earnings per share for the current year.

Institutional Investors Weigh In On TAT Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc grew its stake in shares of TAT Technologies by 100.0% in the second quarter. IFP Advisors Inc now owns 1,954 shares of the aerospace company’s stock worth $94,000 after acquiring an additional 977 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in TAT Technologies in the first quarter valued at $228,000. Morgan Dempsey Capital Management LLC boosted its holdings in TAT Technologies by 10.4% in the first quarter. Morgan Dempsey Capital Management LLC now owns 9,393 shares of the aerospace company’s stock valued at $382,000 after purchasing an additional 888 shares during the period. Corient Private Wealth LP acquired a new position in TAT Technologies during the 2nd quarter worth $711,000. Finally, Illumine Investment Management LLC acquired a new position in TAT Technologies during the 1st quarter worth $825,000. 15.13% of the stock is currently owned by institutional investors and hedge funds.

TAT Technologies Company Profile

TAT Technologies Ltd. (NASDAQ: TATT) is an aerospace and defense company that designs, manufactures, and services thermal-management systems and other aircraft components. Its products include heat exchangers, air-conditioning and environmental-control components, pre-coolers, and related systems used in commercial, military, and business aircraft.

The company also provides maintenance, repair, and overhaul services for aircraft heat-transfer equipment, landing-gear components, and auxiliary power units.