TAT Technologies (NASDAQ:TATT) Announces Quarterly Earnings Results

TAT Technologies (NASDAQ:TATT) released its earnings results on Wednesday. The aerospace company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.07, FiscalAI reports. The company had revenue of $41.15 million during the quarter, compared to the consensus estimate of $40.25 million. TAT Technologies had a return on equity of 10.69% and a net margin of 9.45%.

TAT Technologies Stock Performance

Shares of TATT opened at $32.69 on Wednesday. The stock has a 50 day moving average price of $42.12 and a 200 day moving average price of $44.85. The company has a quick ratio of 2.67, a current ratio of 4.89 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $424.32 million, a price-to-earnings ratio of 23.86 and a beta of 0.96. TAT Technologies has a 52-week low of $25.52 and a 52-week high of $64.50.

Hedge Funds Weigh In On TAT Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd acquired a new position in TAT Technologies in the fourth quarter valued at approximately $630,000. Millennium Management LLC acquired a new position in TAT Technologies in the fourth quarter valued at approximately $2,034,000. Osaic Holdings Inc. boosted its holdings in TAT Technologies by 38.3% in the fourth quarter. Osaic Holdings Inc. now owns 9,661 shares of the aerospace company’s stock valued at $431,000 after purchasing an additional 2,675 shares in the last quarter. Monimus Capital Management LP acquired a new position in TAT Technologies in the fourth quarter valued at approximately $632,000. Finally, Russell Investments Group Ltd. boosted its holdings in TAT Technologies by 71.2% in the fourth quarter. Russell Investments Group Ltd. now owns 258,153 shares of the aerospace company’s stock valued at $11,529,000 after purchasing an additional 107,353 shares in the last quarter. 15.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TATT has been the subject of several research reports. Weiss Ratings downgraded TAT Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. Wall Street Zen downgraded TAT Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. B. Riley Financial initiated coverage on TAT Technologies in a research report on Wednesday, April 8th. They issued a “buy” rating and a $61.00 target price for the company. Lake Street Capital reaffirmed a “buy” rating and issued a $59.00 target price on shares of TAT Technologies in a research report on Wednesday, February 4th. Finally, Stifel Nicolaus lifted their target price on TAT Technologies from $47.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $57.29.

About TAT Technologies

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.