TAT Technologies (NASDAQ:TATT) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• The stock price of TAT Technologies crossed above its 200-day moving average, with shares last trading at $35.88 compared to a 200-day average of $28.89.
• Multiple analysts have issued buy ratings for TAT Technologies, with target prices ranging from $35.00 to $37.00, reflecting positive market sentiment.
• The company reported $0.34 earnings per share for the last quarter, surpassing analyst expectations and indicating strong financial performance.

TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.89 and traded as high as $36.00. TAT Technologies shares last traded at $35.88, with a volume of 49,349 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TATT. Truist Financial assumed coverage on shares of TAT Technologies in a report on Wednesday, June 4th. They set a "buy" rating and a $35.00 price target on the stock. Wall Street Zen downgraded shares of TAT Technologies from a "buy" rating to a "hold" rating in a research note on Saturday. Lake Street Capital assumed coverage on shares of TAT Technologies in a research note on Wednesday, June 18th. They issued a "buy" rating and a $37.00 target price on the stock. Finally, Benchmark upped their target price on shares of TAT Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th.

TAT Technologies Price Performance

The stock's 50 day simple moving average is $30.34 and its 200 day simple moving average is $29.11. The firm has a market capitalization of $464.85 million, a P/E ratio of 31.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.12 and a current ratio of 2.87.

TAT Technologies (NASDAQ:TATT - Get Free Report) last announced its quarterly earnings results on Monday, May 19th. The aerospace company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.04. TAT Technologies had a net margin of 8.04% and a return on equity of 11.90%. The firm had revenue of $42.14 million during the quarter, compared to analysts' expectations of $41.70 million.

Institutional Investors Weigh In On TAT Technologies

Several hedge funds have recently modified their holdings of the business. Meitav Investment House Ltd. lifted its position in shares of TAT Technologies by 61.7% in the 2nd quarter. Meitav Investment House Ltd. now owns 1,454,618 shares of the aerospace company's stock worth $44,722,000 after purchasing an additional 555,286 shares during the period. Boston Partners acquired a new stake in TAT Technologies in the second quarter valued at approximately $9,186,000. Roubaix Capital LLC acquired a new stake in TAT Technologies in the first quarter valued at approximately $5,238,000. Renaissance Technologies LLC boosted its stake in TAT Technologies by 6.6% in the fourth quarter. Renaissance Technologies LLC now owns 189,301 shares of the aerospace company's stock valued at $4,861,000 after acquiring an additional 11,799 shares in the last quarter. Finally, Wasatch Advisors LP acquired a new stake in TAT Technologies in the fourth quarter valued at approximately $4,349,000. Hedge funds and other 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.