TAT Technologies (NASDAQ:TATT) Announces Quarterly Earnings Results

Key Points

• TAT Technologies beat quarterly expectations: The aerospace company reported earnings of $0.58 per share, exceeding the $0.39 consensus estimate, while revenue of $55.56 million also topped expectations of $52.84 million.
• Shares opened at $31.80, with a $413.4 million market capitalization and a 12-month trading range of $30.47 to $64.50. The company reported a 9.84% return on equity and an 11.26% net margin.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $58.33, although B. Riley cut its target from $65 to $60 and Weiss Ratings downgraded the stock to “hold.”

TAT Technologies (NASDAQ:TATT - Get Free Report) issued its quarterly earnings results on Monday. The aerospace company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.19, FiscalAI reports. The company had revenue of $55.56 million for the quarter, compared to the consensus estimate of $52.84 million. TAT Technologies had a return on equity of 9.84% and a net margin of 11.26%.

TAT Technologies Stock Performance

NASDAQ:TATT opened at $31.80 on Monday. The firm has a market capitalization of $413.40 million, a PE ratio of 19.88 and a beta of 1.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.61. The business's fifty day moving average price is $35.54 and its 200 day moving average price is $42.47. TAT Technologies has a 12 month low of $30.47 and a 12 month high of $64.50.

Analyst Ratings Changes

TATT has been the subject of a number of analyst reports. Benchmark reissued a "buy" rating on shares of TAT Technologies in a research report on Tuesday, August 25th. Weiss Ratings lowered shares of TAT Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 16th. B. Riley Financial reduced their target price on shares of TAT Technologies from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, October 28th. Finally, William Blair reiterated a "hold" rating on shares of TAT Technologies in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, TAT Technologies has a consensus rating of "Moderate Buy" and an average price target of $58.33.

About TAT Technologies

TAT Technologies Ltd. is an aerospace and defense company headquartered in Netanya, Israel. The company develops, manufactures, and services thermal-management and other specialized systems used in commercial, military, business, and general aviation applications.

Its product portfolio includes heat exchangers, air-conditioning and environmental-control components, air-cycle machines, pre-coolers, oil coolers, fuel heaters, pumps, and related aircraft systems. TAT also provides maintenance, repair, and overhaul services for aircraft heat-transfer equipment, auxiliary power units, landing-gear components, and other aviation parts.

Through its operations in Israel and the United States, TAT Technologies serves aircraft manufacturers, airlines, aerospace and defense contractors, and government customers.

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