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 $40.36, but opened at $42.55. TAT Technologies shares last traded at $43.65, with a volume of 76,082 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Stifel Nicolaus increased their price target on TAT Technologies from $47.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Benchmark upped their target price on TAT Technologies from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Weiss Ratings downgraded TAT Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. Zacks Research raised TAT Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, Wall Street Zen cut TAT Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Three 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $57.29.

TAT Technologies Stock Up 8.4%

The firm has a market capitalization of $568.00 million, a PE ratio of 33.92 and a beta of 1.00. The company has a current ratio of 4.69, a quick ratio of 2.46 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average of $39.14 and a two-hundred day moving average of $44.83.

TAT Technologies (NASDAQ:TATT) last announced its quarterly earnings results on Thursday, May 21st. The aerospace company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.19 by $0.07. The company had revenue of $41.15 million during the quarter, compared to analyst estimates of $40.25 million. TAT Technologies had a return on equity of 9.47% and a net margin of 9.27%. On average, equities research analysts forecast that TAT Technologies Ltd. will post 1.52 EPS for the current year.

Insider Buying and Selling

In related news, COO Jason Lewandowski sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $39.22, for a total value of $122,562.50. Following the transaction, the chief operating officer owned 3,125 shares in the company, valued at approximately $122,562.50. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.75% of the company’s stock.

Institutional Investors Weigh In On TAT Technologies

Large investors have recently made changes to their positions in the business. Greenline Wealth Management LLC purchased a new position in shares of TAT Technologies in the 4th quarter valued at $41,000. Royal Bank of Canada boosted its position in TAT Technologies by 978.8% during the 4th quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company’s stock worth $50,000 after purchasing an additional 1,018 shares during the period. PNC Financial Services Group Inc. purchased a new stake in TAT Technologies during 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, Axxcess Wealth Management LLC acquired a new stake in TAT Technologies in the 3rd quarter valued at $225,000. Institutional investors and hedge funds 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.