TAT Technologies (NASDAQ:TATT) Announces Earnings Results

TAT Technologies (NASDAQ:TATT) posted its quarterly earnings results on Wednesday. The aerospace company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.07, FiscalAI reports. TAT Technologies had a net margin of 9.45% and a return on equity of 10.69%. The firm had revenue of $41.15 million for the quarter, compared to the consensus estimate of $40.25 million.

TAT Technologies Stock Up 0.8%

Shares of NASDAQ TATT opened at $32.69 on Wednesday. The stock has a market cap of $424.32 million, a PE ratio of 23.86 and a beta of 0.96. The business has a fifty day moving average of $42.12 and a two-hundred day moving average of $44.85. TAT Technologies has a 52-week low of $25.52 and a 52-week high of $64.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.67 and a current ratio of 4.89.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TATT. Wasatch Advisors LP raised its holdings in shares of TAT Technologies by 143.0% in the second quarter. Wasatch Advisors LP now owns 781,216 shares of the aerospace company’s stock valued at $23,858,000 after buying an additional 459,693 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of TAT Technologies by 71.2% in the fourth quarter. Russell Investments Group Ltd. now owns 258,153 shares of the aerospace company’s stock valued at $11,529,000 after buying an additional 107,353 shares during the last quarter. Boston Partners raised its holdings in shares of TAT Technologies by 38.8% in the fourth quarter. Boston Partners now owns 223,498 shares of the aerospace company’s stock valued at $9,984,000 after buying an additional 62,510 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of TAT Technologies by 470.4% in the second quarter. JPMorgan Chase & Co. now owns 69,618 shares of the aerospace company’s stock valued at $2,126,000 after buying an additional 57,412 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of TAT Technologies by 713.2% in the second quarter. Bank of America Corp DE now owns 56,085 shares of the aerospace company’s stock valued at $1,713,000 after buying an additional 49,188 shares during the last quarter. 15.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TATT shares. Benchmark lifted their price objective on TAT Technologies from $58.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Weiss Ratings cut TAT Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 8th. Truist Financial raised TAT Technologies to a “strong-buy” rating in a report on Friday, May 1st. Stifel Nicolaus lifted their price objective on TAT Technologies from $47.00 to $60.00 and gave the company a “buy” rating in a report on Friday, March 20th. 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 issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $57.29.

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.