StockNews.com Downgrades TAT Technologies (NASDAQ:TATT) to Hold

TAT Technologies (NASDAQ:TATT) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Benchmark upped their price objective on TAT Technologies from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, April 3rd.

TAT Technologies Price Performance

TATT stock opened at $32.84 on Friday. The stock has a market cap of $359.27 million, a price-to-earnings ratio of 44.38 and a beta of 0.75. TAT Technologies has a fifty-two week low of $11.03 and a fifty-two week high of $33.83. The company has a quick ratio of 1.29, a current ratio of 3.04 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $26.86 and a 200 day moving average price of $24.81.

TAT Technologies (NASDAQ:TATT) last announced its quarterly earnings results on Wednesday, March 26th. The aerospace company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. TAT Technologies had a net margin of 5.58% and a return on equity of 8.23%. The firm had revenue of $38.00 million for the quarter, compared to analyst estimates of $38.00 million.

Hedge Funds Weigh In On TAT Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP purchased a new position in TAT Technologies in the fourth quarter worth $4,349,000. Arrowstreet Capital Limited Partnership boosted its holdings in TAT Technologies by 142.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 39,109 shares of the aerospace company’s stock worth $1,019,000 after buying an additional 22,987 shares in the last quarter. Marshall Wace LLP acquired a new position in TAT Technologies during the fourth quarter worth about $444,000. Jane Street Group LLC purchased a new position in TAT Technologies in the fourth quarter valued at about $368,000. Finally, Renaissance Technologies LLC lifted its position in shares of TAT Technologies by 6.6% during the 4th 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 during the period. Institutional investors and hedge funds own 15.13% of the company’s stock.

TAT Technologies Company Profile

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.