TAT Technologies (NASDAQ:TATT) Shares Gap Up After Analyst Upgrade

Key Points

• Shares of TAT Technologies jumped premarket after Benchmark raised its price target from $58 to $66 and kept a buy rating; the stock opened at $59.60 vs a prior close of $57.34 and last traded near $56.23 on volume of ~46,333 shares.
• Analyst consensus is a Buy (1 Strong Buy, 6 Buy, 1 Hold) with a MarketBeat consensus target of $54.50, though individual price targets vary widely.
• Hedge funds and institutional investors have recently added positions (institutional ownership ~15.13%), and the company shows strong liquidity (quick ratio 2.34, current ratio 4.44) with very low leverage (debt/equity 0.06) and a market cap of about $709 million.

TAT Technologies Ltd. (NASDAQ:TATT - Get Free Report) shares gapped up before the market opened on Thursday after Benchmark raised their price target on the stock from $58.00 to $66.00. The stock had previously closed at $57.34, but opened at $59.60. Benchmark currently has a buy rating on the stock. TAT Technologies shares last traded at $56.2320, with a volume of 46,333 shares changing hands.

Several other brokerages have also commented on TATT. Wall Street Zen lowered TAT Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. Loop Capital set a $53.00 price target on TAT Technologies in a research note on Tuesday, December 30th. Weiss Ratings restated a "buy (b)" rating on shares of TAT Technologies in a report on Monday, December 29th. Lake Street Capital reaffirmed a "buy" rating and set a $59.00 price objective on shares of TAT Technologies in a research report on Wednesday, February 4th. Finally, Freedom Capital upgraded shares of TAT Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, TAT Technologies has a consensus rating of "Buy" and a consensus target price of $54.50.

Institutional Investors Weigh In On TAT Technologies

Hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new stake in TAT Technologies in the 4th quarter valued at $630,000. Millennium Management LLC acquired a new position in TAT Technologies during the fourth quarter worth $2,034,000. Apis Capital Advisors LLC lifted its stake in shares of TAT Technologies by 10.0% in the fourth quarter. Apis Capital Advisors LLC now owns 126,496 shares of the aerospace company's stock valued at $5,649,000 after buying an additional 11,496 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of TAT Technologies by 38.3% during the fourth quarter. Osaic Holdings Inc. now owns 9,661 shares of the aerospace company's stock valued at $431,000 after buying an additional 2,675 shares during the last quarter. Finally, Monimus Capital Management LP acquired a new position in shares of TAT Technologies during the fourth quarter valued at about $632,000. Institutional investors and hedge funds own 15.13% of the company's stock.

TAT Technologies Trading Down 1.6%

The company has a quick ratio of 2.34, a current ratio of 4.44 and a debt-to-equity ratio of 0.06. The firm's 50-day moving average price is $52.47 and its 200 day moving average price is $44.44. The company has a market capitalization of $708.67 million, a P/E ratio of 42.38 and a beta of 0.93.

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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