TAT Technologies (NASDAQ:TATT) Shares Break Below 200-Day Moving Average - Should You Sell?

Key Points

• TAT Technologies shares fell below their 200-day moving average, trading as low as $31.70 versus the $40.11 average, and last changing hands at $32.50.
• Despite the technical weakness, analysts remain broadly positive: the stock has a consensus “Buy” rating and a $57.86 average price target, with B. Riley raising its target to $65.
• The company exceeded quarterly expectations, reporting $0.35 in earnings per share versus the $0.30 estimate and $52.94 million in revenue versus $44.86 million expected.

TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report) passed 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 Analysts Forecast Growth

A number of brokerages have recently commented on TATT. B. Riley Financial increased their price objective on TAT Technologies from $61.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. William Blair reissued a "hold" rating on shares of TAT Technologies in a research note on Wednesday, July 15th. Weiss Ratings upgraded TAT Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Finally, Benchmark reaffirmed a "buy" rating on shares of TAT Technologies in a research note on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $57.86.

TAT Technologies Price Performance

The stock has a fifty day moving average price of $38.00 and a 200-day moving average price of $40.11. The company has a market cap of $422.50 million, a PE ratio of 20.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.61.

TAT Technologies (NASDAQ:TATT - Get Free Report) last issued its earnings results on Tuesday, August 4th. The aerospace company reported $0.35 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $44.86 million. On average, equities analysts expect that TAT Technologies Ltd. will post 1.4 earnings per share for the current year.

Institutional Investors Weigh In On TAT Technologies

Large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC grew its holdings in TAT Technologies by 21.4% during the second quarter. Tidal Investments LLC now owns 25,208 shares of the aerospace company's stock valued at $1,216,000 after purchasing an additional 4,447 shares during the last quarter. IFP Advisors Inc lifted 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 buying an additional 977 shares during the last quarter. Corient Private Wealth LP bought a new stake in shares of TAT Technologies during the 2nd quarter worth $711,000. Navellier & Associates Inc. boosted its holdings 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 buying an additional 18,458 shares during the period. Finally, Wellington Management Group LLP acquired a new position in TAT Technologies in the 2nd quarter valued at $21,213,000. Institutional investors own 15.13% of the company's stock.

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.

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