TAT Technologies (NASDAQ:TATT) Stock Price Expected to Rise, B. Riley Financial Analyst Says

TAT Technologies (NASDAQ:TATT) had its price target boosted by stock analysts at B. Riley Financial from $61.00 to $65.00 in a note issued to investors on Thursday, Marketbeat.com reports. The firm presently has a “buy” rating on the aerospace company’s stock. B. Riley Financial’s price target would indicate a potential upside of 63.98% from the company’s previous close.

TATT has been the topic of a number of other reports. William Blair restated a “hold” rating on shares of TAT Technologies in a report on Wednesday, July 15th. Truist Financial upgraded TAT Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings cut TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 15th. Zacks Research upgraded TAT Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Finally, Benchmark reaffirmed a “buy” rating on shares of TAT Technologies in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $57.86.

TAT Technologies Price Performance

Shares of NASDAQ TATT opened at $39.64 on Thursday. TAT Technologies has a twelve month low of $30.35 and a twelve month high of $64.50. The company has a current ratio of 4.83, a quick ratio of 2.46 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $43.29 and a two-hundred day moving average of $44.95. The company has a market capitalization of $515.32 million, a price-to-earnings ratio of 24.77 and a beta of 1.00.

TAT Technologies (NASDAQ:TATT) last released its earnings results on Wednesday, August 5th. The aerospace company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $52.94 million for the quarter, compared to the consensus estimate of $44.86 million. TAT Technologies had a net margin of 11.26% and a return on equity of 9.84%. As a group, analysts expect that TAT Technologies will post 1.58 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On TAT Technologies

Several institutional investors and hedge funds have recently modified their holdings of TATT. Goldman Sachs Group Inc. acquired a new stake in TAT Technologies during the first quarter valued at $207,000. Jane Street Group LLC increased its position in TAT Technologies by 125.8% in the 1st quarter. Jane Street Group LLC now owns 32,344 shares of the aerospace company’s stock worth $889,000 after purchasing an additional 18,020 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of TAT Technologies by 470.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 69,618 shares of the aerospace company’s stock worth $2,126,000 after purchasing an additional 57,412 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of TAT Technologies by 70.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 74,984 shares of the aerospace company’s stock worth $2,316,000 after purchasing an additional 31,104 shares in the last quarter. Finally, Walleye Capital LLC lifted its holdings in shares of TAT Technologies by 49.1% during the 2nd quarter. Walleye Capital LLC now owns 12,343 shares of the aerospace company’s stock valued at $377,000 after buying an additional 4,062 shares during the last quarter. 15.13% of the stock is currently owned by hedge funds and other institutional investors.

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.