TAT Technologies (NASDAQ:TATT) Stock Price Down 4.6% – Here’s Why

Shares of TAT Technologies Ltd. (NASDAQ:TATT) fell 4.6% on Thursday . The stock traded as low as $41.07 and last traded at $40.6250. 44,463 shares were traded during trading, a decline of 74% from the average session volume of 170,990 shares. The stock had previously closed at $42.60.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TATT. Freedom Capital raised TAT Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of TAT Technologies in a report on Friday, March 27th. Loop Capital set a $53.00 price target on shares of TAT Technologies in a report on Tuesday, December 30th. Stifel Nicolaus raised their price target on shares of TAT Technologies from $47.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Finally, Benchmark raised their price target on shares of TAT Technologies from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $57.29.

TAT Technologies Price Performance

The stock has a 50 day moving average price of $49.79 and a two-hundred day moving average price of $45.82. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.67 and a current ratio of 4.89. The company has a market capitalization of $531.35 million, a PE ratio of 29.78 and a beta of 1.11.

TAT Technologies (NASDAQ:TATT) last posted its quarterly earnings results on Wednesday, March 18th. The aerospace company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). TAT Technologies had a return on equity of 10.69% and a net margin of 9.45%.The firm had revenue of $46.53 million for the quarter, compared to analysts’ expectations of $48.04 million.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund bought a new position in shares of TAT Technologies in the 3rd quarter valued at approximately $10,150,000. Principal Financial Group Inc. raised its stake in shares of TAT Technologies by 49.0% in the 3rd quarter. Principal Financial Group Inc. now owns 39,553 shares of the aerospace company’s stock valued at $1,742,000 after acquiring an additional 13,013 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of TAT Technologies in the 3rd quarter valued at approximately $8,869,000. Apis Capital Advisors LLC bought a new position in shares of TAT Technologies in the 3rd quarter valued at approximately $5,063,000. Finally, Oak Ridge Investments LLC bought a new position in shares of TAT Technologies in the 4th quarter valued at approximately $1,160,000. 15.13% of the stock is owned by institutional investors.

TAT Technologies Company Profile

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.