TAT Technologies (NASDAQ:TATT) Stock Gets Price Target Reduction from B. Riley Financial

TAT Technologies (NASDAQ:TATT) had its target price decreased by B. Riley Financial from $65.00 to $60.00 in a report issued on Wednesday morning, MarketBeat Ratings reports. B. Riley Financial currently has a buy rating on the aerospace company’s stock.

Several other analysts have also issued reports on TATT. Benchmark restated a “buy” rating on shares of TAT Technologies in a research report on Tuesday, August 25th. Weiss Ratings downgraded shares of TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Finally, William Blair reiterated a “hold” rating on shares of TAT Technologies in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $58.33.

TAT Technologies Stock Down 5.1%

TAT Technologies stock opened at $31.80 on Wednesday. The stock has a market cap of $413.34 million, a PE ratio of 19.88 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 has a one year low of $30.47 and a one year high of $64.50. The stock has a fifty day moving average of $35.54 and a 200 day moving average of $42.47.

TAT Technologies (NASDAQ:TATT) last released its quarterly earnings results on Tuesday, August 4th. The aerospace company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. TAT Technologies had a return on equity of 9.84% and a net margin of 11.26%. The business had revenue of $52.94 million during the quarter, compared to the consensus estimate of $44.86 million. As a group, sell-side analysts predict that TAT Technologies will post 1.39 EPS for the current year.

Hedge Funds Weigh In On TAT Technologies

Several large investors have recently added to or reduced their stakes in TATT. Meitav Investment House Ltd. lifted its stake in shares of TAT Technologies by 0.3% during the 1st quarter. Meitav Investment House Ltd. now owns 1,211,860 shares of the aerospace company’s stock valued at $47,989,000 after buying an additional 3,122 shares in the last quarter. Wasatch Advisors LP boosted its holdings in TAT Technologies by 35.1% in the 2nd quarter. Wasatch Advisors LP now owns 768,702 shares of the aerospace company’s stock worth $37,074,000 after buying an additional 199,622 shares during the period. Wellington Management Group LLP purchased a new stake in TAT Technologies in the 2nd quarter worth $21,213,000. Clal Insurance Enterprises Holdings Ltd increased its stake in TAT Technologies by 26.5% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 456,640 shares of the aerospace company’s stock worth $18,405,000 after buying an additional 95,756 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in TAT Technologies by 14.9% in the 1st quarter. Renaissance Technologies LLC now owns 203,402 shares of the aerospace company’s stock worth $8,264,000 after buying an additional 26,400 shares in the last quarter. Hedge funds and other institutional investors own 15.13% of the company’s stock.

About TAT Technologies

TAT Technologies Ltd. is an aerospace and defense company headquartered in Netanya, Israel. The company develops, manufactures, and services thermal-management and other specialized systems used in commercial, military, business, and general aviation applications.

Its product portfolio includes heat exchangers, air-conditioning and environmental-control components, air-cycle machines, pre-coolers, oil coolers, fuel heaters, pumps, and related aircraft systems. TAT also provides maintenance, repair, and overhaul services for aircraft heat-transfer equipment, auxiliary power units, landing-gear components, and other aviation parts.

Through its operations in Israel and the United States, TAT Technologies serves aircraft manufacturers, airlines, aerospace and defense contractors, and government customers.