TAT Technologies (NASDAQ:TATT) Reaches New 12-Month High - Here's What Happened

Key Points

• TAT Technologies reached a new 12-month high, trading at $44.13, with a last traded price of $44.03, up from a previous close of $40.29.
• Analysts have upgraded TAT Technologies, with Zacks raising its rating to "strong-buy" and others indicating a consensus price target of $38.00.
• The company reported quarterly earnings of $0.30 per share, exceeding expectations, and has a net margin of 8.21%.

TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $44.13 and last traded at $44.03, with a volume of 146497 shares trading hands. The stock had previously closed at $40.29.

Wall Street Analysts Forecast Growth

TATT has been the topic of a number of recent analyst reports. Zacks Research raised shares of TAT Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Benchmark lifted their price target on shares of TAT Technologies from $35.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Truist Financial started coverage on shares of TAT Technologies in a research note on Wednesday, June 4th. They issued a "buy" rating and a $35.00 price objective on the stock. Wall Street Zen upgraded shares of TAT Technologies from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. Finally, Stifel Nicolaus started coverage on shares of TAT Technologies in a research note on Tuesday, September 16th. They issued a "buy" rating and a $44.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $38.00.

TAT Technologies Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 4.67 and a quick ratio of 2.42. The stock's 50 day simple moving average is $36.89 and its two-hundred day simple moving average is $31.61. The stock has a market cap of $553.02 million, a price-to-earnings ratio of 36.09 and a beta of 0.78.

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

Institutional Investors Weigh In On TAT Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtus Advisers LLC acquired a new stake in shares of TAT Technologies in the 1st quarter valued at $45,000. Catalyst Capital Advisors LLC bought a new position in shares of TAT Technologies in the first quarter valued at about $63,000. Osaic Holdings Inc. raised its holdings in shares of TAT Technologies by 470.9% in the second quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company's stock valued at $166,000 after buying an additional 4,474 shares during the last quarter. Morgan Dempsey Capital Management LLC raised its holdings in shares of TAT Technologies by 72.5% in the second quarter. Morgan Dempsey Capital Management LLC now owns 7,256 shares of the aerospace company's stock valued at $221,000 after buying an additional 3,050 shares during the last quarter. Finally, PDT Partners LLC bought a new position in shares of TAT Technologies in the second quarter valued at about $228,000. Institutional investors and hedge funds own 15.13% of the company's stock.

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.

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