TAT Technologies (NASDAQ:TATT) Issues Quarterly Earnings Results

TAT Technologies (NASDAQ:TATT) issued its earnings results on Wednesday. The aerospace company reported $0.36 earnings per share for the quarter, FiscalAI reports. TAT Technologies had a net margin of 9.08% and a return on equity of 11.10%. The company had revenue of $46.53 million for the quarter.

TAT Technologies Stock Performance

NASDAQ TATT traded down $4.55 on Wednesday, hitting $56.55. The stock had a trading volume of 319,982 shares, compared to its average volume of 142,483. The company’s 50-day moving average is $53.19 and its two-hundred day moving average is $45.07. TAT Technologies has a one year low of $23.92 and a one year high of $64.50. The stock has a market cap of $710.55 million, a price-to-earnings ratio of 42.52 and a beta of 0.93. The company has a quick ratio of 2.34, a current ratio of 4.44 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On TAT Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in TATT. Wasatch Advisors LP boosted its stake in TAT Technologies by 5.5% during the 3rd quarter. Wasatch Advisors LP now owns 824,238 shares of the aerospace company’s stock valued at $36,291,000 after purchasing an additional 43,022 shares in the last quarter. Boston Partners acquired a new stake in shares of TAT Technologies in the second quarter valued at $13,205,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in TAT Technologies by 92.1% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 386,996 shares of the aerospace company’s stock valued at $17,283,000 after buying an additional 185,574 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in TAT Technologies during the second quarter valued at about $11,025,000. Finally, Penn Capital Management Company LLC grew its holdings in TAT Technologies by 1,063.4% during the third quarter. Penn Capital Management Company LLC now owns 357,768 shares of the aerospace company’s stock worth $15,768,000 after acquiring an additional 327,015 shares during the period. 15.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on TATT. Benchmark lifted their price target on shares of TAT Technologies from $58.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Freedom Capital raised shares of TAT Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Zacks Research upgraded TAT Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Lake Street Capital reiterated a “buy” rating and set a $59.00 price target on shares of TAT Technologies in a research report on Wednesday, February 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TAT Technologies in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, TAT Technologies currently has a consensus rating of “Buy” and a consensus price target of $54.50.

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.