TAT Technologies (NASDAQ:TATT) Shares Gap Up – What’s Next?

TAT Technologies Ltd. (NASDAQ:TATT) shares gapped up prior to trading on Friday . The stock had previously closed at $40.99, but opened at $44.19. TAT Technologies shares last traded at $43.73, with a volume of 3,623 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TATT. Weiss Ratings cut TAT Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 8th. Stifel Nicolaus increased their target price on TAT Technologies from $47.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Wall Street Zen cut TAT Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Truist Financial upgraded TAT Technologies to a “strong-buy” rating in a report on Friday, May 1st. Finally, Zacks Research upgraded TAT Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, TAT Technologies currently has a consensus rating of “Buy” and a consensus price target of $57.29.

TAT Technologies Trading Up 1.1%

The firm has a fifty day moving average of $39.11 and a two-hundred day moving average of $45.05. The company has a market cap of $577.29 million, a PE ratio of 34.47 and a beta of 1.00. The company has a current ratio of 4.69, a quick ratio of 2.46 and a debt-to-equity ratio of 0.05.

TAT Technologies (NASDAQ:TATT) last announced its quarterly earnings results on Thursday, May 21st. The aerospace company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.07. TAT Technologies had a return on equity of 9.47% and a net margin of 9.27%.The business had revenue of $41.15 million for the quarter, compared to analysts’ expectations of $40.25 million. As a group, sell-side analysts predict that TAT Technologies Ltd. will post 1.52 EPS for the current year.

Insider Activity at TAT Technologies

In other news, COO Jason Lewandowski sold 3,125 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was 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 $122,562.50. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.75% of the stock is owned by insiders.

Institutional Investors Weigh In On TAT Technologies

A number of institutional investors have recently added to or reduced their stakes in TATT. Wasatch Advisors LP lifted its holdings in TAT Technologies by 143.0% during the second quarter. Wasatch Advisors LP now owns 781,216 shares of the aerospace company’s stock valued at $23,858,000 after purchasing an additional 459,693 shares in the last quarter. Penn Capital Management Company LLC lifted its holdings in TAT Technologies by 1,063.4% during the third quarter. Penn Capital Management Company LLC now owns 357,768 shares of the aerospace company’s stock valued at $15,768,000 after purchasing an additional 327,015 shares in the last quarter. Stephens Investment Management Group LLC purchased a new position in shares of TAT Technologies in the first quarter valued at approximately $7,733,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of TAT Technologies by 92.1% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 386,996 shares of the aerospace company’s stock valued at $17,283,000 after acquiring an additional 185,574 shares in the last quarter. Finally, Next Century Growth Investors LLC purchased a new position in shares of TAT Technologies in the fourth quarter valued at approximately $5,902,000. Institutional investors and hedge funds own 15.13% of the company’s stock.

About TAT Technologies

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.