Wall Street Zen Downgrades TAT Technologies (NASDAQ:TATT) to Hold

TAT Technologies (NASDAQ:TATT) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other research firms have also recently commented on TATT. Truist Financial initiated coverage on shares of TAT Technologies in a research note on Wednesday, June 4th. They issued a “buy” rating and a $35.00 target price for the company. Benchmark lifted their target price on shares of TAT Technologies from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. Finally, Lake Street Capital started coverage on shares of TAT Technologies in a report on Wednesday, June 18th. They issued a “buy” rating and a $37.00 price target for the company.

TAT Technologies Trading Down 2.1%

NASDAQ TATT opened at $37.01 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.12 and a current ratio of 2.87. The company has a market capitalization of $464.85 million, a price-to-earnings ratio of 31.63 and a beta of 0.77. The company’s 50-day simple moving average is $30.34 and its two-hundred day simple moving average is $29.11. TAT Technologies has a one year low of $13.57 and a one year high of $38.26.

TAT Technologies (NASDAQ:TATT) last released its quarterly earnings results on Monday, May 19th. The aerospace company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. TAT Technologies had a net margin of 8.04% and a return on equity of 11.90%. The business had revenue of $42.14 million for the quarter, compared to analysts’ expectations of $41.70 million.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TATT. Calamos Advisors LLC purchased a new stake in TAT Technologies during the second quarter worth about $228,000. Boston Partners acquired a new position in TAT Technologies in the second quarter valued at approximately $9,186,000. K.J. Harrison & Partners Inc acquired a new position in TAT Technologies in the second quarter valued at approximately $1,374,000. Provident Co of the Employees of the Hebrew University LTD purchased a new position in shares of TAT Technologies during the second quarter worth approximately $764,000. Finally, Anthracite Investment Company Inc. grew its position in shares of TAT Technologies by 900.8% during the second quarter. Anthracite Investment Company Inc. now owns 144,892 shares of the aerospace company’s stock worth $4,425,000 after acquiring an additional 130,415 shares during the last quarter. Institutional investors and hedge funds 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.