TAT Technologies (NASDAQ:TATT) Sets New 1-Year High - Here's Why

Key Points

• TAT Technologies reached a 52-week high of $40.40, with a notable 7.7% increase in trading, reflecting strong investor interest.
• Several firms, including Wall Street Zen and Benchmark, have upgraded their ratings to "buy" and increased target prices, indicating confidence in the stock's future performance.
• The company reported a net margin of 8.21% and an earnings per share (EPS) of $0.30, slightly exceeding analyst expectations, despite revenue falling short of estimates.

TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $39.74 and last traded at $40.40, with a volume of 148862 shares trading hands. The stock had previously closed at $37.06.

Analyst Ratings Changes

A number of analysts have recently issued reports on TATT shares. Truist Financial assumed coverage on shares of TAT Technologies in a report on Wednesday, June 4th. They set a "buy" rating and a $35.00 price objective for the company. Lake Street Capital initiated coverage on TAT Technologies in a research note on Wednesday, June 18th. They set a "buy" rating and a $37.00 price target for the company. Zacks Research upgraded TAT Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Benchmark raised their price objective on TAT Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, Wall Street Zen raised TAT Technologies from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat, TAT Technologies has a consensus rating of "Buy" and a consensus price target of $36.00.

TAT Technologies Trading Up 1.2%

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 firm has a 50-day moving average of $32.26 and a 200-day moving average of $29.51. The firm has a market capitalization of $464.65 million, a P/E ratio of 30.31 and a beta of 0.77.

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

Institutional Trading of TAT Technologies

Large investors have recently bought and sold shares of the company. Virtus Fund Advisers LLC purchased a new position in shares of TAT Technologies during the fourth quarter valued at approximately $29,000. Virtus Advisers LLC purchased a new position in TAT Technologies in the 1st quarter worth about $45,000. Catalyst Capital Advisors LLC bought a new position in TAT Technologies during the 1st quarter valued at about $63,000. Morgan Dempsey Capital Management LLC lifted its stake in TAT Technologies by 72.5% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 7,256 shares of the aerospace company's stock valued at $221,000 after acquiring an additional 3,050 shares during the period. Finally, PDT Partners LLC bought a new stake in shares of TAT Technologies in the second quarter worth approximately $228,000. 15.13% of the stock is owned by institutional investors.

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.