TAT Technologies (NASDAQ:TATT) Share Price Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• TAT Technologies shares fell below their 200-day moving average, trading as low as $37.24 versus the $42.56 average, before closing at $38.62.
• Analysts remain broadly positive, with the stock carrying an average “Buy” rating and a consensus price target of $57.86; B. Riley recently raised its target to $65.
• The company beat quarterly expectations, reporting $0.35 in earnings per share versus a $0.30 estimate and $52.94 million in revenue versus a $44.86 million consensus.

TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.56 and traded as low as $37.24. TAT Technologies shares last traded at $38.62, with a volume of 75,733 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TATT. Weiss Ratings raised shares of TAT Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. William Blair reissued a "hold" rating on shares of TAT Technologies in a research report on Wednesday, July 15th. Benchmark restated a "buy" rating on shares of TAT Technologies in a research note on Tuesday, August 25th. Zacks Research raised TAT Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday, May 22nd. Finally, B. Riley Financial boosted their price target on TAT Technologies from $61.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Two investment 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 stock. According to MarketBeat.com, TAT Technologies presently has an average rating of "Buy" and an average price target of $57.86.

TAT Technologies Trading Up 0.4%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.61 and a current ratio of 4.83. The business's 50 day moving average price is $40.02 and its 200-day moving average price is $42.56. The firm has a market cap of $501.98 million, a price-to-earnings ratio of 24.14 and a beta of 1.00.

TAT Technologies (NASDAQ:TATT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The aerospace company reported $0.35 EPS for the quarter, topping 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. Equities analysts expect that TAT Technologies Ltd. will post 1.39 EPS for the current year.

Insider Transactions at TAT Technologies

In other TAT Technologies news, insider Paul Maness sold 5,000 shares of TAT Technologies stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $45.41, for a total value of $227,050.00. Following the completion of the transaction, the insider owned 5,000 shares of the company's stock, valued at $227,050. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 8.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On TAT Technologies

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC raised its stake in TAT Technologies by 21.4% during the second quarter. Tidal Investments LLC now owns 25,208 shares of the aerospace company's stock worth $1,216,000 after acquiring an additional 4,447 shares during the period. IFP Advisors Inc boosted its stake in TAT Technologies by 100.0% in the second quarter. IFP Advisors Inc now owns 1,954 shares of the aerospace company's stock valued at $94,000 after acquiring an additional 977 shares during the period. Corient Private Wealth LP bought a new position in shares of TAT Technologies during the second quarter valued at approximately $711,000. California State Teachers Retirement System acquired a new stake in shares of TAT Technologies during the 2nd quarter worth approximately $384,000. Finally, Navellier & Associates Inc. raised its position in shares of TAT Technologies by 158.7% during the 2nd quarter. Navellier & Associates Inc. now owns 30,092 shares of the aerospace company's stock worth $1,451,000 after purchasing an additional 18,458 shares during the period. Institutional investors own 15.13% of the company's stock.

About TAT Technologies

TAT Technologies Ltd. NASDAQ: TATT is an aerospace and defense company that designs, manufactures, and services systems and components used in commercial, military, and business aviation. Its products include heat exchangers, oil coolers, hydraulic coolers, fuel and air-conditioning system components, pre-coolers, and other thermal-management equipment for aircraft and engines.

The company also provides maintenance, repair, and overhaul services for aviation components, including heat-transfer equipment and related systems.

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