TAT Technologies (NASDAQ:TATT) Shares Break Below 200 Day Moving Average - What's Next?

Key Points

• TAT Technologies shares fell below their 200-day moving average, reaching $31.63 versus the $39.60 average, and last traded at $32.21 on volume of 136,503 shares.
• Analysts remain broadly optimistic, with a consensus “Buy” rating and $59.17 price target; B. Riley raised its target to $65.00, while other firms maintained Buy or Hold ratings.
• The company exceeded quarterly expectations, reporting $0.35 EPS versus a $0.30 estimate and $52.94 million in revenue versus a $44.86 million consensus forecast. Institutional investors own 15.13% of the stock.

Shares of TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report) passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $39.60 and traded as low as $31.63. TAT Technologies shares last traded at $32.21, with a volume of 136,503 shares traded.

Wall Street Analysts Forecast Growth

TATT has been the topic of several recent analyst reports. B. Riley Financial increased their target price on TAT Technologies from $61.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, August 6th. William Blair reiterated a "hold" rating on shares of TAT Technologies in a research report on Wednesday, July 15th. Weiss Ratings raised TAT Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Finally, Benchmark reaffirmed a "buy" rating on shares of TAT Technologies in a report on Tuesday, August 25th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $59.17.

TAT Technologies Stock Up 1.4%

The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.61. The firm's 50-day moving average price is $37.04 and its 200 day moving average price is $39.60. The firm has a market capitalization of $418.73 million, a price-to-earnings ratio of 20.13 and a beta of 1.01.

TAT Technologies (NASDAQ:TATT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The aerospace company reported $0.35 earnings per share (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 firm had revenue of $52.94 million during the quarter, compared to the consensus estimate of $44.86 million. Sell-side analysts expect that TAT Technologies Ltd. will post 1.40 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. IFP Advisors Inc increased 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 purchasing an additional 977 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of TAT Technologies in the first quarter worth about $228,000. Morgan Dempsey Capital Management LLC grew its position in TAT Technologies by 10.4% in the first quarter. Morgan Dempsey Capital Management LLC now owns 9,393 shares of the aerospace company's stock valued at $382,000 after acquiring an additional 888 shares in the last quarter. Corient Private Wealth LP acquired a new position in shares of TAT Technologies during the second quarter worth $711,000. Finally, Illumine Investment Management LLC purchased a new position in shares of TAT Technologies in the first quarter valued at $825,000. 15.13% of the stock is currently owned by institutional investors and hedge funds.

About TAT Technologies

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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