TAT Technologies (NASDAQ:TATT) Rating Increased to Buy at Wall Street Zen

TAT Technologies (NASDAQ:TATT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus lifted their price target on shares of TAT Technologies from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Benchmark assumed coverage on shares of TAT Technologies in a report on Monday, November 17th. They issued a “buy” rating and a $53.00 price objective for the company. Truist Financial dropped their price target on shares of TAT Technologies from $56.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Zacks Research lowered shares of TAT Technologies from a “hold” rating to a “strong sell” rating in a research note on Friday, November 14th. Finally, Jones Trading started coverage on TAT Technologies in a research note on Friday, October 10th. They issued a “buy” rating and a $50.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.80.

TAT Technologies Trading Up 1.3%

TAT Technologies stock opened at $40.08 on Friday. The company has a quick ratio of 2.34, a current ratio of 4.44 and a debt-to-equity ratio of 0.06. TAT Technologies has a 52 week low of $22.57 and a 52 week high of $45.83. The stock has a 50-day moving average price of $39.98 and a 200 day moving average price of $36.30. The company has a market capitalization of $503.40 million, a price-to-earnings ratio of 30.14 and a beta of 0.89.

TAT Technologies (NASDAQ:TATT) last released its quarterly earnings data on Wednesday, November 12th. The aerospace company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). TAT Technologies had a return on equity of 11.10% and a net margin of 9.08%.The business had revenue of $46.24 million during the quarter, compared to analyst estimates of $46.27 million.

Hedge Funds Weigh In On TAT Technologies

Several hedge funds have recently made changes to their positions in the company. Penn Capital Management Company LLC increased its position in shares of 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 worth $15,768,000 after purchasing an additional 327,015 shares in the last quarter. Virtus Advisers LLC grew its stake in TAT Technologies by 315.9% during the 3rd quarter. Virtus Advisers LLC now owns 6,859 shares of the aerospace company’s stock worth $302,000 after buying an additional 5,210 shares during the last quarter. Wasatch Advisors LP increased its position in TAT Technologies by 5.5% during the third quarter. Wasatch Advisors LP now owns 824,238 shares of the aerospace company’s stock worth $36,291,000 after buying an additional 43,022 shares during the period. Morgan Dempsey Capital Management LLC lifted its stake in TAT Technologies by 17.2% in the third quarter. Morgan Dempsey Capital Management LLC now owns 8,505 shares of the aerospace company’s stock valued at $372,000 after buying an additional 1,249 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new stake in shares of TAT Technologies in the third quarter valued at approximately $456,000. Hedge funds and other institutional investors 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.