TAT Technologies (NASDAQ:TATT) Shares Gap Up Following Earnings Beat

Key Points

• TAT Technologies reported a quarterly earnings beat, with EPS of $0.58 versus the $0.39 consensus estimate and revenue of $55.56 million compared with expectations of $52.84 million.
• The stock jumped 21.6%, opening at $34.70 after previously closing at $31.80, and later traded at $38.4750.
• Analysts maintain a consensus “Moderate Buy” rating with a $58.33 price target, while institutional investors own 15.13% of the company.

TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report) gapped up prior to trading on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $31.80, but opened at $34.70. TAT Technologies shares last traded at $38.4750, with a volume of 436,394 shares traded.

The aerospace company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.19. TAT Technologies had a return on equity of 9.84% and a net margin of 11.26%. The business had revenue of $55.56 million during the quarter, compared to analysts' expectations of $52.84 million.

Wall Street Analysts Forecast Growth

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

Institutional Trading of TAT Technologies

Several institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc grew its stake in shares of TAT Technologies by 100.0% during the second quarter. IFP Advisors Inc now owns 1,954 shares of the aerospace company's stock valued at $94,000 after buying an additional 977 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of TAT Technologies during the 1st quarter worth approximately $228,000. Morgan Dempsey Capital Management LLC lifted its stake in shares of TAT Technologies by 10.4% during the 1st quarter. Morgan Dempsey Capital Management LLC now owns 9,393 shares of the aerospace company's stock worth $382,000 after acquiring an additional 888 shares during the last quarter. Corient Private Wealth LP bought a new stake in shares of TAT Technologies during the 2nd quarter worth approximately $711,000. Finally, Illumine Investment Management LLC purchased a new position in TAT Technologies during the 1st quarter valued at $825,000. Institutional investors own 15.13% of the company's stock.

TAT Technologies Trading Up 21.6%

The stock has a fifty day moving average of $35.54 and a 200-day moving average of $42.47. The company has a market cap of $502.71 million, a PE ratio of 24.17 and a beta of 1.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.61 and a current ratio of 4.83.

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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