TAT Technologies (NASDAQ:TATT) Trading Up 8% – Time to Buy?

Shares of TAT Technologies Ltd. (NASDAQ:TATT) were up 8% on Thursday . The stock traded as high as $46.32 and last traded at $45.96. 108,361 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 184,621 shares. The stock had previously closed at $42.54.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TATT. Stifel Nicolaus increased their target price on TAT Technologies from $47.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, March 20th. B. Riley Financial assumed coverage on TAT Technologies in a research note on Wednesday, April 8th. They issued a “buy” rating and a $61.00 price target on the stock. Zacks Research upgraded TAT Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Weiss Ratings cut TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. Finally, Truist Financial raised TAT Technologies to a “strong-buy” rating in a report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $57.29.

TAT Technologies Price Performance

The stock has a market capitalization of $607.09 million, a P/E ratio of 36.25 and a beta of 1.00. The company’s 50 day simple moving average is $39.69 and its two-hundred day simple moving average is $45.45. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.69 and a quick ratio of 2.46.

TAT Technologies (NASDAQ:TATT) last posted its earnings results on Thursday, May 21st. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.07. The company had revenue of $41.15 million during the quarter, compared to analysts’ expectations of $40.25 million. TAT Technologies had a net margin of 9.27% and a return on equity of 9.47%. As a group, equities analysts expect that TAT Technologies Ltd. will post 1.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul Maness sold 5,000 shares of TAT Technologies stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $45.41, for a total transaction of $227,050.00. Following the transaction, the insider owned 5,000 shares in the company, valued at $227,050. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jason Lewandowski sold 3,125 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $39.22, for a total value of $122,562.50. Following the completion of the transaction, the chief operating officer owned 3,125 shares of the company’s stock, valued at $122,562.50. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.75% of the stock is owned by insiders.

Institutional Investors Weigh In On TAT Technologies

Institutional investors have recently bought and sold shares of the company. Greenline Wealth Management LLC bought a new position in shares of TAT Technologies during the 4th quarter worth approximately $41,000. Royal Bank of Canada boosted its holdings in TAT Technologies by 978.8% during the fourth quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company’s stock worth $50,000 after purchasing an additional 1,018 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in TAT Technologies during the third quarter worth $53,000. Quantbot Technologies LP bought a new position in TAT Technologies in the third quarter valued at $121,000. Finally, Osaic Holdings Inc. grew its position in TAT Technologies by 470.9% in the second quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company’s stock valued at $166,000 after purchasing an additional 4,474 shares in the last quarter. Institutional investors own 15.13% of the company’s stock.

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.