TAT Technologies (NASDAQ:TATT) Sets New 12-Month High – Here’s What Happened

TAT Technologies Ltd. (NASDAQ:TATT) shares reached a new 52-week high on Tuesday . The company traded as high as $53.74 and last traded at $52.8350, with a volume of 44125 shares trading hands. The stock had previously closed at $52.40.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stifel Nicolaus boosted their price objective on shares of TAT Technologies from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Lake Street Capital started coverage on TAT Technologies in a research report on Tuesday, December 30th. They set a “buy” rating and a $53.00 target price on the stock. Jones Trading assumed coverage on TAT Technologies in a research note on Friday, October 10th. They issued a “buy” rating and a $50.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of TAT Technologies in a report on Monday, December 29th. Finally, Wall Street Zen downgraded TAT Technologies from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.33.

TAT Technologies Trading Down 0.2%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 4.44. The business’s 50 day moving average price is $43.04 and its 200-day moving average price is $39.48. The firm has a market cap of $656.89 million, a price-to-earnings ratio of 39.32 and a beta of 0.89.

TAT Technologies (NASDAQ:TATT) last announced its quarterly earnings data on Wednesday, November 12th. The aerospace company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). TAT Technologies had a net margin of 9.08% and a return on equity of 11.10%. The firm had revenue of $46.24 million during the quarter, compared to the consensus estimate of $46.27 million.

Institutional Investors Weigh In On TAT Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Meitav Investment House Ltd. boosted its holdings in TAT Technologies by 61.7% in the second 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. Wasatch Advisors LP lifted its position in shares of TAT Technologies by 5.5% in the 3rd quarter. Wasatch Advisors LP now owns 824,238 shares of the aerospace company’s stock worth $36,291,000 after buying an additional 43,022 shares during the last quarter. Boston Partners acquired a new position in shares of TAT Technologies in the 2nd quarter valued at about $13,205,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of TAT Technologies in the 2nd quarter valued at about $11,025,000. Finally, Penn Capital Management Company LLC grew its position in shares of TAT Technologies by 1,063.4% during the 3rd quarter. Penn Capital Management Company LLC now owns 357,768 shares of the aerospace company’s stock valued at $15,768,000 after buying an additional 327,015 shares during the last quarter. 15.13% of the stock is owned by institutional investors and hedge funds.

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.