TAT Technologies (NASDAQ:TATT) Raised to "Strong-Buy" at B. Riley Financial

Key Points

• B. Riley Financial upgraded TAT Technologies to a strong-buy, and the stock carries an overall analyst consensus of Buy with an average price target of $57.29 (2 Strong Buy, 6 Buy, 1 Hold).
• In the latest quarter TAT missed estimates, reporting $0.36 EPS versus $0.39 expected and $46.53M revenue versus $48.04M, while posting a net margin of 9.45% and a return on equity of 10.69%.
• Shares opened at $41.37 (1‑year range $24.56–$64.50) with a market cap of about $537M and a P/E of 30.2, and several institutional investors materially increased positions even though institutional ownership remains around 15.13%.

TAT Technologies (NASDAQ:TATT - Get Free Report) was upgraded by B. Riley Financial to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Zacks Research raised shares of TAT Technologies from a "strong sell" rating to a "hold" rating in a research report on Monday, January 12th. Stifel Nicolaus raised their price objective on shares of TAT Technologies from $47.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, March 20th. Freedom Capital upgraded shares of TAT Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 16th. Wall Street Zen downgraded shares of TAT Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. Finally, Loop Capital set a $53.00 price target on shares of TAT Technologies in a research note on Tuesday, December 30th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $57.29.

TAT Technologies Stock Performance

TATT stock opened at $41.37 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.89 and a quick ratio of 2.67. TAT Technologies has a 1 year low of $24.56 and a 1 year high of $64.50. The company has a market cap of $536.98 million, a P/E ratio of 30.20 and a beta of 1.11. The stock's fifty day moving average price is $50.35 and its 200-day moving average price is $45.71.

TAT Technologies (NASDAQ:TATT - Get Free Report) last posted its quarterly earnings data on Wednesday, March 18th. The aerospace company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). TAT Technologies had a net margin of 9.45% and a return on equity of 10.69%. The firm had revenue of $46.53 million for the quarter, compared to analysts' expectations of $48.04 million.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP raised its stake in TAT Technologies by 5.5% during the 3rd quarter. Wasatch Advisors LP now owns 824,238 shares of the aerospace company's stock worth $36,291,000 after acquiring an additional 43,022 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of TAT Technologies by 92.1% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 386,996 shares of the aerospace company's stock worth $17,283,000 after purchasing an additional 185,574 shares during the period. Penn Capital Management Company LLC increased its stake in shares of TAT Technologies by 1,063.4% in the third quarter. Penn Capital Management Company LLC now owns 357,768 shares of the aerospace company's stock worth $15,768,000 after purchasing an additional 327,015 shares in the last quarter. Russell Investments Group Ltd. increased its stake 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 worth $11,529,000 after purchasing an additional 107,353 shares in the last quarter. Finally, Roubaix Capital LLC raised its position in shares of TAT Technologies by 6.6% during the 3rd quarter. Roubaix Capital LLC now owns 250,141 shares of the aerospace company's stock valued at $11,014,000 after purchasing an additional 15,477 shares during the period. 15.13% of the stock is currently owned by institutional investors.

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.

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