TAT Technologies (NASDAQ:TATT) Reaches New 1-Year High – Time to Buy?

Shares of TAT Technologies Ltd. (NASDAQ:TATT) hit a new 52-week high during trading on Thursday . The stock traded as high as $53.59 and last traded at $51.49, with a volume of 259446 shares. The stock had previously closed at $51.87.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TATT. Zacks Research cut TAT Technologies from a “hold” rating to a “strong sell” rating in a report on Friday, November 14th. Lake Street Capital began coverage on TAT Technologies in a report on Tuesday, December 30th. They set a “buy” rating and a $53.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of TAT Technologies in a research report on Monday, December 29th. Loop Capital set a $53.00 price target on shares of TAT Technologies in a research report on Tuesday, December 30th. Finally, Stifel Nicolaus upped 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. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, TAT Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $51.33.

TAT Technologies Stock Up 0.0%

The company has a market cap of $643.57 million, a PE ratio of 38.53 and a beta of 0.89. The company has a fifty day moving average of $41.55 and a two-hundred day moving average of $38.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 4.44.

TAT Technologies (NASDAQ:TATT) last posted 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 net margin of 9.08% and a return on equity of 11.10%. The firm had revenue of $46.24 million for the quarter, compared to the consensus estimate of $46.27 million.

Institutional Trading of TAT Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TATT. Penn Capital Management Company LLC boosted 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 valued at $15,768,000 after buying an additional 327,015 shares during the period. Virtus Advisers LLC lifted its stake in shares of 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 acquiring an additional 5,210 shares during the last quarter. Wasatch Advisors LP grew its position in TAT Technologies by 5.5% in the 3rd quarter. Wasatch Advisors LP now owns 824,238 shares of the aerospace company’s stock valued at $36,291,000 after acquiring an additional 43,022 shares during the last quarter. Morgan Dempsey Capital Management LLC grew its position in TAT Technologies by 17.2% in the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 8,505 shares of the aerospace company’s stock valued at $372,000 after acquiring an additional 1,249 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new stake in TAT Technologies in the third quarter worth $456,000. 15.13% of the stock is owned by hedge funds and other institutional investors.

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.