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

Key Points

• TAT Technologies' stock hit a new 52-week high at $45.14 before closing at $43.97, reflecting a significant increase in investor interest.
• Wall Street analysts remain optimistic, with multiple firms issuing buy ratings and an average price target of $38.00 for the stock.
• The company reported a profit of $0.30 EPS, slightly exceeding analysts' expectations, even though its revenue fell short of forecasts at $43.10 million.

TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $45.14 and last traded at $43.97, with a volume of 99835 shares traded. The stock had previously closed at $42.25.

Wall Street Analyst Weigh In

Several brokerages recently commented on TATT. Lake Street Capital initiated coverage on TAT Technologies in a research note on Wednesday, June 18th. They issued a "buy" rating and a $37.00 price target for the company. Weiss Ratings restated a "buy (b-)" rating on shares of TAT Technologies in a report on Saturday, September 27th. Benchmark increased their target price on shares of TAT Technologies from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Stifel Nicolaus initiated coverage on TAT Technologies in a research note on Tuesday, September 16th. They set a "buy" rating and a $44.00 price target for the company. Finally, Wall Street Zen raised shares of TAT Technologies from a "hold" rating to a "buy" rating in a research report on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, TAT Technologies currently has an average rating of "Buy" and an average price target of $38.00.

TAT Technologies Stock Up 4.1%

The firm has a market capitalization of $552.26 million, a price-to-earnings ratio of 36.04 and a beta of 0.91. 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 business has a 50 day moving average of $37.78 and a 200 day moving average of $32.15.

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

Institutional Trading of TAT Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtus Advisers LLC acquired a new position in shares of TAT Technologies during the first quarter valued at $45,000. Catalyst Capital Advisors LLC bought a new stake in shares of TAT Technologies during the 1st quarter valued at $63,000. Osaic Holdings Inc. lifted its stake in shares of TAT Technologies by 470.9% in the 2nd quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company's stock valued at $166,000 after purchasing an additional 4,474 shares during the period. Morgan Dempsey Capital Management LLC grew its stake in shares of TAT Technologies by 72.5% during the second quarter. Morgan Dempsey Capital Management LLC now owns 7,256 shares of the aerospace company's stock worth $221,000 after purchasing an additional 3,050 shares during the period. Finally, PDT Partners LLC bought a new stake in TAT Technologies in the second quarter valued at about $228,000. 15.13% of the stock is currently owned by institutional investors and hedge funds.

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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