TAT Technologies (NASDAQ:TATT) Sees Unusually-High Trading Volume – Should You Buy?

TAT Technologies Ltd. (NASDAQ:TATT) saw an uptick in trading volume on Thursday . 205,082 shares were traded during mid-day trading, an increase of 11% from the previous session’s volume of 184,400 shares.The stock last traded at $45.0920 and had previously closed at $42.82.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TATT. Truist Financial raised shares of TAT Technologies to a “strong-buy” rating in a research report on Friday, May 1st. B. Riley Financial began coverage on shares of TAT Technologies in a research report on Wednesday, April 8th. They issued a “buy” rating and a $61.00 price target for the company. Stifel Nicolaus increased their price target on shares of TAT Technologies from $47.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Wall Street Zen lowered shares of TAT Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Weiss Ratings lowered shares of TAT Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, TAT Technologies presently has an average rating of “Buy” and an average target price of $57.29.

TAT Technologies Trading Up 6.6%

The company has a fifty day simple moving average of $39.02 and a two-hundred day simple moving average of $44.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.69 and a quick ratio of 2.46. The company has a market capitalization of $592.21 million, a P/E ratio of 35.36 and a beta of 1.00.

TAT Technologies (NASDAQ:TATT) last posted its earnings results on Thursday, May 21st. The aerospace company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.07. TAT Technologies had a return on equity of 9.47% and a net margin of 9.27%.The company had revenue of $41.15 million for the quarter, compared to analyst estimates of $40.25 million. On average, analysts forecast that TAT Technologies Ltd. will post 1.52 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Jason Lewandowski sold 3,125 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $39.22, for a total value of $122,562.50. Following the sale, the chief operating officer owned 3,125 shares in the company, valued at approximately $122,562.50. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.75% of the company’s stock.

Institutional Investors Weigh In On TAT Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund acquired a new stake in TAT Technologies during the third quarter worth about $10,150,000. Oak Ridge Investments LLC acquired a new stake in TAT Technologies during the fourth quarter worth about $1,160,000. Migdal Insurance & Financial Holdings Ltd. grew its position in TAT Technologies by 92.1% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 386,996 shares of the aerospace company’s stock worth $17,283,000 after buying an additional 185,574 shares in the last quarter. Principal Financial Group Inc. boosted its stake in TAT Technologies by 49.0% during the third quarter. Principal Financial Group Inc. now owns 39,553 shares of the aerospace company’s stock worth $1,742,000 after buying an additional 13,013 shares in the last quarter. Finally, Calamos Advisors LLC boosted its stake in TAT Technologies by 288.9% during the fourth quarter. Calamos Advisors LLC now owns 94,695 shares of the aerospace company’s stock worth $4,229,000 after buying an additional 70,345 shares in the last quarter. Institutional investors and hedge funds own 15.13% of the company’s stock.

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.