TAT Technologies (NASDAQ:TATT) Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded TAT Technologies (NASDAQ:TATT) from a "hold" to a "strong sell" in a report issued Tuesday.
• Most other analysts remain more positive—two Strong Buy, six Buy and one Sell—giving TATT an average target price of $57.29 despite the Zacks downgrade.
• The stock opened at $42.60 (1‑year range $24.56–$64.50) after TAT missed quarterly estimates with $0.36 EPS vs. $0.39 expected and $46.53M revenue vs. $48.04M expected.

TAT Technologies (NASDAQ:TATT - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

TATT has been the subject of several other reports. Lake Street Capital reiterated a "buy" rating and issued a $59.00 target price on shares of TAT Technologies in a report on Wednesday, February 4th. Stifel Nicolaus raised their target price 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. Wall Street Zen cut shares of TAT Technologies from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. B. Riley Financial started coverage on shares of TAT Technologies in a report on Wednesday, April 8th. They set a "buy" rating and a $61.00 price target for the company. Finally, Weiss Ratings restated a "buy (b)" rating on shares of TAT Technologies in a report on Friday, March 27th. 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 company. Based on data from MarketBeat, TAT Technologies has an average rating of "Buy" and an average target price of $57.29.

TAT Technologies Stock Performance

Shares of TATT opened at $42.60 on Tuesday. TAT Technologies has a one year low of $24.56 and a one year high of $64.50. The company has a 50-day moving average of $49.79 and a two-hundred day moving average of $45.82. The stock has a market cap of $552.95 million, a price-to-earnings ratio of 31.09 and a beta of 1.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.89 and a quick ratio of 2.67.

TAT Technologies (NASDAQ:TATT - Get Free Report) last announced its earnings results on Wednesday, March 18th. The aerospace company reported $0.36 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $48.04 million.

Institutional Trading of TAT Technologies

Institutional investors have recently made changes to their positions in the stock. Greenline Wealth Management LLC acquired a new stake in shares of TAT Technologies during the fourth quarter worth approximately $41,000. Royal Bank of Canada boosted its holdings in shares of TAT Technologies by 978.8% during the fourth quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company's stock worth $50,000 after purchasing an additional 1,018 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of TAT Technologies during the third quarter worth approximately $53,000. Quantbot Technologies LP acquired a new stake in shares of TAT Technologies during the third quarter worth approximately $121,000. Finally, GWN Securities Inc. bought a new position in TAT Technologies during the third quarter valued at approximately $202,000. 15.13% of the stock is currently owned by institutional investors and hedge funds.

About TAT Technologies

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.

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