TAT Technologies (NASDAQ:TATT) Shares Up 8% – Time to Buy?

TAT Technologies Ltd. (NASDAQ:TATT)’s share price was up 8% during trading on Thursday . The stock traded as high as $46.32 and last traded at $45.96. 108,361 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 184,621 shares. The stock had previously closed at $42.54.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TATT shares. Zacks Research raised TAT Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Weiss Ratings cut shares of TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. B. Riley Financial initiated coverage on shares of TAT Technologies in a report on Wednesday, April 8th. They issued a “buy” rating and a $61.00 target price for the company. Benchmark boosted their price target on TAT Technologies from $58.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Finally, Truist Financial upgraded TAT Technologies to a “strong-buy” rating in a report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $57.29.

TAT Technologies Stock Up 5.2%

The firm has a 50-day simple moving average of $39.62 and a 200 day simple moving average of $45.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.69 and a quick ratio of 2.46. The company has a market capitalization of $580.95 million, a PE ratio of 34.61 and a beta of 1.00.

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

Insider Activity at TAT Technologies

In other TAT Technologies news, COO Jason Lewandowski sold 3,125 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $39.22, for a total transaction of $122,562.50. Following the transaction, the chief operating officer directly owned 3,125 shares in the company, valued at $122,562.50. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul Maness sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $45.41, for a total transaction of $227,050.00. Following the transaction, the insider directly owned 5,000 shares of the company’s stock, valued at approximately $227,050. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.75% of the company’s stock.

Institutional Trading of TAT Technologies

Several hedge funds have recently made changes to their positions in TATT. Meitav Investment House Ltd. lifted its stake in TAT Technologies by 0.3% in the first quarter. Meitav Investment House Ltd. now owns 1,211,860 shares of the aerospace company’s stock valued at $47,989,000 after buying an additional 3,122 shares during the last quarter. Wasatch Advisors LP grew its position in TAT Technologies by 5.5% in the 3rd quarter. Wasatch Advisors LP now owns 824,238 shares of the aerospace company’s stock worth $36,291,000 after purchasing an additional 43,022 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of TAT Technologies by 26.5% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 456,640 shares of the aerospace company’s stock valued at $18,405,000 after purchasing an additional 95,756 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of 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 during the last quarter. Finally, Penn Capital Management Company LLC boosted its position in shares of 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 buying an additional 327,015 shares during the period. Institutional investors own 15.13% of the company’s stock.

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.