TAT Technologies (NASDAQ:TATT) Shares Gap Up – Here’s Why

TAT Technologies Ltd. (NASDAQ:TATT) shares gapped up prior to trading on Wednesday . The stock had previously closed at $56.16, but opened at $59.15. TAT Technologies shares last traded at $58.79, with a volume of 49,332 shares traded.

Wall Street Analysts Forecast Growth

TATT has been the subject of a number of research reports. Lake Street Capital reaffirmed a “buy” rating and set a $59.00 target price on shares of TAT Technologies in a report on Wednesday, February 4th. Stifel Nicolaus raised their target price on TAT Technologies from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Benchmark upped their price target on TAT Technologies from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Freedom Capital raised TAT Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of TAT Technologies in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $53.17.

TAT Technologies Price Performance

The firm’s 50-day moving average is $51.41 and its two-hundred day moving average is $43.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.44 and a quick ratio of 2.34. The company has a market cap of $740.33 million, a P/E ratio of 44.30 and a beta of 0.93.

Institutional Trading of TAT Technologies

Several institutional investors and hedge funds have recently made changes to their positions in TATT. Greenline Wealth Management LLC bought a new position in shares of TAT Technologies in the fourth quarter worth about $41,000. Royal Bank of Canada grew 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 worth $50,000 after acquiring an additional 1,018 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of TAT Technologies during the third quarter valued at approximately $53,000. Quantbot Technologies LP purchased a new stake in shares of TAT Technologies in the third quarter valued at approximately $121,000. Finally, GWN Securities Inc. purchased a new stake in shares of TAT Technologies in the third quarter valued at approximately $202,000. 15.13% of the stock is currently owned by 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.