Wall Street Zen Downgrades TAT Technologies (NASDAQ:TATT) to Hold

TAT Technologies (NASDAQ:TATT) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Several other research firms have also recently commented on TATT. Benchmark started coverage on shares of TAT Technologies in a research note on Monday, November 17th. They set a “buy” rating and a $53.00 target price on the stock. Zacks Research cut shares of TAT Technologies from a “hold” rating to a “strong sell” rating in a report on Friday, November 14th. Truist Financial dropped their target price on TAT Technologies from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TAT Technologies in a research note on Monday, December 22nd. Finally, Stifel Nicolaus boosted their price objective on TAT Technologies from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.80.

TAT Technologies Stock Up 0.6%

Shares of TAT Technologies stock opened at $45.47 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.44 and a quick ratio of 2.34. TAT Technologies has a 1-year low of $22.57 and a 1-year high of $46.45. The business’s fifty day moving average price is $40.30 and its two-hundred day moving average price is $36.99. The company has a market capitalization of $571.10 million, a P/E ratio of 34.19 and a beta of 0.89.

TAT Technologies (NASDAQ:TATT) last issued its quarterly earnings results on Wednesday, November 12th. The aerospace company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). TAT Technologies had a net margin of 9.08% and a return on equity of 11.10%. The business had revenue of $46.24 million for the quarter, compared to analyst estimates of $46.27 million.

Institutional Investors Weigh In On TAT Technologies

A number of institutional investors and hedge funds have recently modified their holdings of TATT. Penn Capital Management Company LLC raised its position in shares of TAT Technologies by 1,063.4% during the third quarter. Penn Capital Management Company LLC now owns 357,768 shares of the aerospace company’s stock worth $15,768,000 after purchasing an additional 327,015 shares during the period. Virtus Advisers LLC increased its stake in TAT Technologies by 315.9% in the 3rd quarter. Virtus Advisers LLC now owns 6,859 shares of the aerospace company’s stock worth $302,000 after purchasing an additional 5,210 shares in the last quarter. Wasatch Advisors LP raised its holdings in TAT Technologies by 5.5% during the 3rd quarter. Wasatch Advisors LP now owns 824,238 shares of the aerospace company’s stock worth $36,291,000 after buying an additional 43,022 shares during the period. Morgan Dempsey Capital Management LLC lifted its stake in TAT Technologies by 17.2% during the third quarter. Morgan Dempsey Capital Management LLC now owns 8,505 shares of the aerospace company’s stock valued at $372,000 after buying an additional 1,249 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new position in shares of TAT Technologies in the third quarter worth about $456,000. Institutional investors and hedge funds own 15.13% of the company’s stock.

About TAT Technologies

TAT Technologies Ltd. is a global provider of environmental control and thermal management solutions for the aerospace industry. The company specializes in the design, manufacturing and support of aircraft environmental control systems (ECS), heat exchangers and related components. Its product portfolio serves commercial and military airframers, engine manufacturers and airlines, offering critical systems that regulate cabin pressure, temperature and ventilation on fixed-wing and rotary aircraft.

Key offerings include air cycle machines, preconditioned air units, steam/water separators and specialty heat exchangers engineered to meet stringent aerospace standards.