TAT Technologies (NASDAQ:TATT) Announces Earnings Results

TAT Technologies (NASDAQ:TATT) announced its quarterly earnings data on Wednesday. The aerospace company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03), Zacks reports. TAT Technologies had a net margin of 8.21% and a return on equity of 10.90%. The company had revenue of $46.24 million during the quarter, compared to analysts’ expectations of $46.27 million.

TAT Technologies Stock Performance

Shares of TATT stock opened at $40.06 on Thursday. The stock’s 50-day moving average is $40.56 and its two-hundred day moving average is $34.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 4.67. TAT Technologies has a 1 year low of $18.87 and a 1 year high of $45.83. The firm has a market cap of $503.35 million, a price-to-earnings ratio of 32.84 and a beta of 0.85.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Jones Trading started coverage on shares of TAT Technologies in a report on Friday, October 10th. They issued a “buy” rating and a $50.00 target price on the stock. Truist Financial increased their price objective on shares of TAT Technologies from $35.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Stifel Nicolaus assumed coverage on shares of TAT Technologies in a report on Tuesday, September 16th. They issued a “buy” rating and a $44.00 price objective on the stock. Wall Street Zen upgraded shares of TAT Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, August 17th. Finally, Zacks Research lowered TAT Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.60.

Institutional Investors Weigh In On TAT Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. purchased a new stake in TAT Technologies in the 3rd quarter valued at $53,000. Quantbot Technologies LP purchased a new position in shares of TAT Technologies during the third quarter worth about $121,000. Osaic Holdings Inc. raised its stake in TAT Technologies by 470.9% during the 2nd quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company’s stock valued at $166,000 after acquiring an additional 4,474 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in TAT Technologies during the 1st quarter worth approximately $207,000. Finally, PDT Partners LLC purchased a new position in shares of TAT Technologies in the 2nd quarter valued at approximately $228,000. Hedge funds and other institutional investors own 15.13% of the company’s stock.

About TAT Technologies

TAT Technologies Ltd., together with its subsidiaries, provides solutions and services to the commercial and military aerospace, and ground defense industries in the United States, Israel, and internationally. The company operates through four segments: Original Equipment Manufacturing (OEM) of Heat Transfer Solutions and Aviation Accessories; Maintenance, Repair, and Overhaul (MRO) Services for Heat Transfer Components and OEM of Heat Transfer Solutions; MRO Services for Aviation Components; and Overhaul and Coating of Jet Engine Components.