TAT Technologies (NASDAQ:TATT) Hits New 1-Year High – Here’s Why

Shares of TAT Technologies Ltd. (NASDAQ:TATT) reached a new 52-week high during trading on Tuesday . The stock 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 Ratings Changes

Several research analysts have commented on the stock. Stifel Nicolaus raised their target price 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. Truist Financial reduced their target price on TAT Technologies from $56.00 to $52.00 and set a “buy” rating for the company in a report on Friday, November 14th. Jones Trading initiated coverage on TAT Technologies in a report on Friday, October 10th. They set a “buy” rating and a $50.00 price target on the stock. Loop Capital set a $53.00 price objective on TAT Technologies in a research report on Tuesday, December 30th. Finally, Wall Street Zen cut shares of TAT Technologies from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $51.33.

TAT Technologies Stock Down 1.8%

The firm has a market capitalization of $655.26 million, a price-to-earnings ratio of 39.23 and a beta of 0.89. The business has a 50 day moving average of $43.81 and a 200 day moving average of $39.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.44 and a quick ratio of 2.34.

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

Hedge Funds Weigh In On TAT Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Valmark Advisers Inc. acquired a new position in TAT Technologies in the second quarter worth $653,000. Boston Partners bought a new stake in TAT Technologies during the 2nd quarter worth about $13,205,000. Anthracite Investment Company Inc. increased its position in TAT Technologies by 900.8% in the 2nd quarter. Anthracite Investment Company Inc. now owns 144,892 shares of the aerospace company’s stock valued at $4,425,000 after acquiring an additional 130,415 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of TAT Technologies in the second quarter worth about $4,119,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of TAT Technologies during the first quarter worth approximately $207,000. 15.13% of the stock is owned by institutional investors.

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.