TAT Technologies Ltd. (NASDAQ:TATT) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• TAT Technologies Ltd. has received an average analyst recommendation of "Buy" from seven analysts, with an average 12-month target price of $40.40.
• Hedge funds and institutional investors have recently increased their stakes in TAT Technologies, with ARK Investment Management LLC investing approximately $1.86 million in the first quarter.
• The company reported a quarterly earnings per share of $0.30, slightly above the consensus estimate, along with revenue of $43.10 million during the quarter.

Shares of TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report) have been given an average recommendation of "Buy" by the seven analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $40.40.

Several equities analysts have recently weighed in on TATT shares. Weiss Ratings cut TAT Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Jones Trading started coverage on TAT Technologies in a research report on Friday. They set a "buy" rating and a $50.00 target price for the company. Wall Street Zen upgraded TAT Technologies from a "hold" rating to a "buy" rating in a research report on Sunday, August 17th. Lake Street Capital started coverage on TAT Technologies in a research report on Wednesday, June 18th. They set a "buy" rating and a $37.00 target price for the company. Finally, Stifel Nicolaus started coverage on TAT Technologies in a research report on Tuesday, September 16th. They set a "buy" rating and a $44.00 target price for the company.

Hedge Funds Weigh In On TAT Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TATT. Catalyst Capital Advisors LLC purchased a new position in TAT Technologies during the first quarter worth about $63,000. ARK Investment Management LLC purchased a new position in shares of TAT Technologies in the 1st quarter worth about $1,864,000. CenterBook Partners LP purchased a new position in shares of TAT Technologies in the 1st quarter worth about $252,000. Roubaix Capital LLC purchased a new position in shares of TAT Technologies in the 1st quarter worth about $5,238,000. Finally, Walleye Capital LLC purchased a new position in shares of TAT Technologies in the 1st quarter worth about $228,000. 15.13% of the stock is currently owned by hedge funds and other institutional investors.

TAT Technologies Price Performance

Shares of NASDAQ TATT opened at $41.91 on Friday. The stock has a market cap of $526.39 million, a PE ratio of 34.35 and a beta of 0.91. TAT Technologies has a fifty-two week low of $17.28 and a fifty-two week high of $45.40. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 4.67. The stock has a fifty day moving average of $38.43 and a 200-day moving average of $32.55.

TAT Technologies (NASDAQ:TATT - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The aerospace company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. The company had revenue of $43.10 million during the quarter, compared to analysts' expectations of $43.85 million. TAT Technologies had a return on equity of 10.90% and a net margin of 8.21%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.