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

TAT Technologies Ltd. (NASDAQ:TATT)’s stock price 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 trading hands.

Several other brokerages also recently commented on TATT. Lake Street Capital restated a “buy” rating and set a $59.00 target price on shares of TAT Technologies in a report on Wednesday, February 4th. Zacks Research upgraded shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Wall Street Zen downgraded shares of TAT Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Freedom Capital upgraded shares of TAT Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Finally, Truist Financial cut their price objective on shares of TAT Technologies from $56.00 to $52.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $54.50.

Institutional Trading of TAT Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP lifted its position in shares of TAT Technologies by 143.0% in the second quarter. Wasatch Advisors LP now owns 781,216 shares of the aerospace company’s stock worth $23,858,000 after purchasing an additional 459,693 shares in the last quarter. Boston Partners bought a new position in TAT Technologies in the second quarter valued at $13,205,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in TAT Technologies in the 2nd quarter valued at $11,025,000. Penn Capital Management Company LLC increased its stake in TAT Technologies by 1,063.4% in the 3rd 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 last quarter. Finally, New York State Common Retirement Fund bought a new stake in TAT Technologies during the 3rd quarter worth about $10,150,000. 15.13% of the stock is currently owned by institutional investors and hedge funds.

TAT Technologies Stock Performance

The stock’s 50 day moving average price is $52.69 and its 200 day moving average price is $44.52. The company has a current ratio of 4.44, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $696.58 million, a price-to-earnings ratio of 41.70 and a beta of 0.93.

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.