TAT Technologies (NASDAQ:TATT) Shares Gap Up – What’s Next?

TAT Technologies Ltd. (NASDAQ:TATT) gapped up prior to trading on Friday . The stock had previously closed at $40.99, but opened at $44.19. TAT Technologies shares last traded at $43.73, with a volume of 3,623 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TATT shares. Zacks Research upgraded TAT Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Truist Financial raised TAT Technologies to a “strong-buy” rating in a report on Friday, May 1st. Benchmark increased their price target on TAT Technologies from $58.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Stifel Nicolaus increased their price target on TAT Technologies from $47.00 to $60.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, B. Riley Financial assumed coverage on TAT Technologies in a report on Wednesday, April 8th. They issued a “buy” rating and a $61.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, TAT Technologies presently has a consensus rating of “Buy” and a consensus price target of $57.29.

TAT Technologies Price Performance

The stock has a 50-day moving average price of $39.11 and a 200 day moving average price of $45.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.69 and a quick ratio of 2.46. The firm has a market cap of $577.29 million, a price-to-earnings ratio of 34.47 and a beta of 1.00.

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

Insiders Place Their Bets

In other TAT Technologies news, COO Jason Lewandowski sold 3,125 shares of TAT Technologies stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $39.22, for a total value of $122,562.50. Following the sale, the chief operating officer owned 3,125 shares of the company’s stock, valued at approximately $122,562.50. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.75% of the company’s stock.

Institutional Investors Weigh In On TAT Technologies

Several institutional investors have recently modified their holdings of TATT. Greenline Wealth Management LLC purchased a new stake in shares of TAT Technologies during the 4th quarter worth approximately $41,000. Royal Bank of Canada lifted its stake in TAT Technologies by 978.8% in the 4th quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company’s stock valued at $50,000 after buying an additional 1,018 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of TAT Technologies in the 3rd quarter worth $53,000. Quantbot Technologies LP acquired a new stake in TAT Technologies in the 3rd quarter valued at $121,000. Finally, Osaic Holdings Inc. lifted its position in shares of TAT Technologies by 470.9% during the second quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company’s stock worth $166,000 after purchasing an additional 4,474 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 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.