TAT Technologies (NASDAQ:TATT) Stock Passes Above 200 Day Moving Average - Here's What Happened

TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $29.88 and traded as high as $36.35. TAT Technologies shares last traded at $34.79, with a volume of 117,836 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on TATT. Truist Financial began coverage on TAT Technologies in a research report on Wednesday, June 4th. They issued a "buy" rating and a $35.00 target price for the company. Benchmark boosted their target price on TAT Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Lake Street Capital began coverage on TAT Technologies in a research report on Wednesday, June 18th. They issued a "buy" rating and a $37.00 target price for the company. Wall Street Zen raised TAT Technologies from a "hold" rating to a "buy" rating in a research report on Sunday, August 17th. Finally, Zacks Research raised TAT Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $36.00.

TAT Technologies Stock Down 2.3%

The company's fifty day moving average is $33.87 and its 200-day moving average is $29.97. The company has a market capitalization of $424.78 million, a PE ratio of 27.72 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 4.67.

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

Institutional Investors Weigh In On TAT Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its holdings in TAT Technologies by 470.9% in the 2nd quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company's stock worth $166,000 after acquiring an additional 4,474 shares in the last quarter. Wasatch Advisors LP boosted its stake in TAT Technologies by 143.0% in the 2nd quarter. Wasatch Advisors LP now owns 781,216 shares of the aerospace company's stock worth $23,858,000 after purchasing an additional 459,693 shares during the period. BNP Paribas Financial Markets bought a new position in TAT Technologies in the 2nd quarter worth approximately $352,000. Bank of America Corp DE boosted its stake in TAT Technologies by 713.2% in the 2nd quarter. Bank of America Corp DE now owns 56,085 shares of the aerospace company's stock worth $1,713,000 after purchasing an additional 49,188 shares during the period. Finally, PDT Partners LLC bought a new position in TAT Technologies in the 2nd quarter worth approximately $228,000. 15.13% of the stock is owned by hedge funds and other institutional investors.

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.