TAT Technologies (NASDAQ:TATT) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of TAT Technologies (NASDAQ:TATT) from a hold rating to a strong sell rating in a research report released on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. B. Riley Financial initiated coverage on TAT Technologies in a report on Wednesday, April 8th. They set a “buy” rating and a $61.00 price objective on the stock. Freedom Capital raised TAT Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Wall Street Zen cut TAT Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Lake Street Capital restated a “buy” rating and set a $59.00 price target on shares of TAT Technologies in a research note on Wednesday, February 4th. Finally, Stifel Nicolaus lifted their price target on TAT Technologies from $47.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, TAT Technologies currently has an average rating of “Buy” and an average price target of $57.29.

TAT Technologies Stock Down 4.7%

Shares of NASDAQ:TATT opened at $40.61 on Tuesday. The firm has a 50 day simple moving average of $49.68 and a 200-day simple moving average of $45.78. TAT Technologies has a twelve month low of $24.56 and a twelve month high of $64.50. The company has a current ratio of 4.89, a quick ratio of 2.67 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $527.12 million, a PE ratio of 29.64 and a beta of 1.11.

TAT Technologies (NASDAQ:TATT) last posted its earnings results on Wednesday, March 18th. The aerospace company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). TAT Technologies had a net margin of 9.45% and a return on equity of 10.69%. The company had revenue of $46.53 million during the quarter, compared to analysts’ expectations of $48.04 million.

Institutional Investors Weigh In On TAT Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in TATT. Greenline Wealth Management LLC purchased a new position in shares of TAT Technologies during the fourth quarter worth about $41,000. Royal Bank of Canada raised its stake in TAT Technologies by 978.8% during the 4th quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company’s stock valued at $50,000 after acquiring an additional 1,018 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in TAT Technologies during the 3rd quarter valued at approximately $53,000. Quantbot Technologies LP acquired a new stake in TAT Technologies during the 3rd quarter worth approximately $121,000. Finally, Osaic Holdings Inc. lifted its position in 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 acquiring an additional 4,474 shares during the period. 15.13% of the stock is owned by hedge funds and other institutional investors.

TAT Technologies Company Profile

TAT Technologies Ltd. is a global provider of environmental control and thermal management solutions for the aerospace industry. The company specializes in the design, manufacturing and support of aircraft environmental control systems (ECS), heat exchangers and related components. Its product portfolio serves commercial and military airframers, engine manufacturers and airlines, offering critical systems that regulate cabin pressure, temperature and ventilation on fixed-wing and rotary aircraft.

Key offerings include air cycle machines, preconditioned air units, steam/water separators and specialty heat exchangers engineered to meet stringent aerospace standards.