TAT Technologies (NASDAQ:TATT) Sets New 52-Week High – Here’s Why

TAT Technologies Ltd. (NASDAQ:TATT)’s share price reached a new 52-week high on Thursday . The stock traded as high as $53.59 and last traded at $51.49, with a volume of 259446 shares trading hands. The stock had previously closed at $51.87.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wall Street Zen cut TAT Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Benchmark assumed coverage on shares of TAT Technologies in a report on Monday, November 17th. They issued a “buy” rating and a $53.00 price target on the stock. Truist Financial reduced their price target on shares of TAT Technologies from $56.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Loop Capital set a $53.00 price objective on shares of TAT Technologies in a report on Tuesday, December 30th. Finally, Zacks Research cut shares of TAT Technologies from a “hold” rating to a “strong sell” rating in a report on Friday, November 14th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.33.

TAT Technologies Trading Down 0.7%

The firm has a market cap of $646.71 million, a PE ratio of 38.71 and a beta of 0.89. The company has a 50-day simple moving average of $41.17 and a 200 day simple moving average of $38.17. The company has a current ratio of 4.44, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06.

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

Hedge Funds Weigh In On TAT Technologies

Several institutional investors and hedge funds have recently modified their holdings of TATT. PNC Financial Services Group Inc. purchased a new position in TAT Technologies during the third quarter worth approximately $53,000. Morgan Dempsey Capital Management LLC lifted its position in shares of TAT Technologies by 17.2% during the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 8,505 shares of the aerospace company’s stock valued at $372,000 after buying an additional 1,249 shares in the last quarter. Huntleigh Advisors Inc. grew its stake in TAT Technologies by 3.7% in the 3rd quarter. Huntleigh Advisors Inc. now owns 38,101 shares of the aerospace company’s stock valued at $1,678,000 after acquiring an additional 1,345 shares during the period. GSA Capital Partners LLP increased its holdings in TAT Technologies by 14.6% in the 3rd quarter. GSA Capital Partners LLP now owns 11,854 shares of the aerospace company’s stock worth $522,000 after acquiring an additional 1,511 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in TAT Technologies during the third quarter worth $121,000. 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.