TAT Technologies (NASDAQ:TATT) Lowered to Hold Rating by Zacks Research

Key Points

• TAT Technologies has been downgraded from a "strong-buy" rating to a "hold" rating by Zacks Research, indicating a shift in analyst confidence regarding the stock's performance.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with an average price target of $40.40.
• In its most recent quarterly earnings report, TAT Technologies reported earnings per share of $0.30, surpassing analysts' expectations by $0.01, but slightly missing revenue estimates.

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

Other analysts also recently issued reports about the stock. Stifel Nicolaus started coverage on shares of TAT Technologies in a research report on Tuesday, September 16th. They set a "buy" rating and a $44.00 price objective on the stock. Weiss Ratings cut TAT Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Wall Street Zen raised TAT Technologies from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. Lake Street Capital began coverage on TAT Technologies in a research note on Wednesday, June 18th. They issued a "buy" rating and a $37.00 price target for the company. Finally, Jones Trading initiated coverage on shares of TAT Technologies in a report on Friday, October 10th. They set a "buy" rating and a $50.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.40.

TAT Technologies Stock Performance

NASDAQ:TATT opened at $42.82 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 4.67. The stock has a 50-day simple moving average of $38.70 and a two-hundred day simple moving average of $32.80. The firm has a market capitalization of $537.82 million, a PE ratio of 35.10 and a beta of 0.91. TAT Technologies has a 52-week low of $17.28 and a 52-week high of $45.40.

TAT Technologies (NASDAQ:TATT - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The aerospace company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.01. TAT Technologies had a return on equity of 10.90% and a net margin of 8.21%.The company had revenue of $43.10 million during the quarter, compared to the consensus estimate of $43.85 million.

Institutional Investors Weigh In On TAT Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtus Advisers LLC purchased a new position in shares of TAT Technologies during the first quarter worth approximately $45,000. Catalyst Capital Advisors LLC purchased a new position in TAT Technologies during the 1st quarter worth $63,000. Morgan Dempsey Capital Management LLC raised its position in TAT Technologies by 72.5% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 7,256 shares of the aerospace company's stock valued at $221,000 after purchasing an additional 3,050 shares in the last quarter. Walleye Capital LLC lifted its holdings in shares of TAT Technologies by 49.1% in the 2nd quarter. Walleye Capital LLC now owns 12,343 shares of the aerospace company's stock worth $377,000 after buying an additional 4,062 shares during the period. Finally, Osaic Holdings Inc. grew its position in shares of TAT Technologies by 470.9% during the 2nd quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company's stock worth $166,000 after buying an additional 4,474 shares in the last quarter. Institutional investors own 15.13% of the company's stock.

About TAT Technologies

TAT Technologies Ltd., together with its subsidiaries, provides solutions and services to the commercial and military aerospace, and ground defense industries in the United States, Israel, and internationally. The company operates through four segments: Original Equipment Manufacturing (OEM) of Heat Transfer Solutions and Aviation Accessories; Maintenance, Repair, and Overhaul (MRO) Services for Heat Transfer Components and OEM of Heat Transfer Solutions; MRO Services for Aviation Components; and Overhaul and Coating of Jet Engine Components.

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