TAT Technologies (NASDAQ:TATT) Given New $60.00 Price Target at B. Riley Financial

TAT Technologies (NASDAQ:TATT) had its target price reduced by B. Riley Financial from $65.00 to $60.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. B. Riley Financial‘s price objective would indicate a potential upside of 82.04% from the company’s current price.

TATT has been the subject of several other reports. William Blair restated a “hold” rating on shares of TAT Technologies in a research report on Wednesday, July 15th. Weiss Ratings downgraded TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Finally, Benchmark reissued a “buy” rating on shares of TAT Technologies in a report on Tuesday, August 25th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.33.

TAT Technologies Price Performance

Shares of TAT Technologies stock opened at $32.96 on Wednesday. The company’s 50-day moving average price is $35.88 and its 200-day moving average price is $42.75. TAT Technologies has a 12-month low of $30.47 and a 12-month high of $64.50.

TAT Technologies (NASDAQ:TATT) last posted its earnings results on Tuesday, August 4th. The aerospace company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $52.94 million for the quarter, compared to the consensus estimate of $44.86 million. Equities analysts forecast that TAT Technologies will post 1.40 earnings per share for the current year.

Institutional Investors Weigh In On TAT Technologies

Large investors have recently added to or reduced their stakes in the company. Meitav Investment House Ltd. lifted its stake in TAT Technologies by 0.3% during the first quarter. Meitav Investment House Ltd. now owns 1,211,860 shares of the aerospace company’s stock worth $47,989,000 after purchasing an additional 3,122 shares during the last quarter. Wasatch Advisors LP lifted its position in TAT Technologies by 35.1% in the 2nd quarter. Wasatch Advisors LP now owns 768,702 shares of the aerospace company’s stock worth $37,074,000 after buying an additional 199,622 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in TAT Technologies by 26.5% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 456,640 shares of the aerospace company’s stock worth $18,405,000 after buying an additional 95,756 shares during the last quarter. Wellington Management Group LLP purchased a new stake in TAT Technologies in the second quarter worth approximately $21,213,000. Finally, Renaissance Technologies LLC grew its position in TAT Technologies by 14.9% during the first quarter. Renaissance Technologies LLC now owns 203,402 shares of the aerospace company’s stock valued at $8,264,000 after acquiring an additional 26,400 shares during the last quarter. Hedge funds and other institutional investors own 15.13% of the company’s stock.

About TAT Technologies

TAT Technologies Ltd. is an aerospace and defense company headquartered in Netanya, Israel. The company develops, manufactures, and services thermal-management and other specialized systems used in commercial, military, business, and general aviation applications.

Its product portfolio includes heat exchangers, air-conditioning and environmental-control components, air-cycle machines, pre-coolers, oil coolers, fuel heaters, pumps, and related aircraft systems. TAT also provides maintenance, repair, and overhaul services for aircraft heat-transfer equipment, auxiliary power units, landing-gear components, and other aviation parts.

Through its operations in Israel and the United States, TAT Technologies serves aircraft manufacturers, airlines, aerospace and defense contractors, and government customers.