Benchmark Forecasts Strong Price Appreciation for TAT Technologies (NASDAQ:TATT) Stock

TAT Technologies (NASDAQ:TATT) had its price objective upped by equities researchers at Benchmark from $30.00 to $35.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. Benchmark’s target price points to a potential upside of 28.82% from the company’s previous close.

Separately, StockNews.com upgraded TAT Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, March 29th.

TAT Technologies Price Performance

TATT stock traded down $0.10 during mid-day trading on Thursday, hitting $27.17. The stock had a trading volume of 59,973 shares, compared to its average volume of 28,474. The firm has a fifty day simple moving average of $27.44 and a 200 day simple moving average of $23.86. The firm has a market capitalization of $297.24 million, a P/E ratio of 36.72 and a beta of 0.99. The company has a current ratio of 3.04, a quick ratio of 1.29 and a debt-to-equity ratio of 0.10. TAT Technologies has a 52 week low of $10.61 and a 52 week high of $33.37.

TAT Technologies (NASDAQ:TATT) last announced its quarterly earnings data on Wednesday, March 26th. The aerospace company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. TAT Technologies had a net margin of 5.58% and a return on equity of 8.23%. The business had revenue of $38.00 million for the quarter, compared to analysts’ expectations of $38.00 million.

Hedge Funds Weigh In On TAT Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP bought a new stake in shares of TAT Technologies during the fourth quarter worth $4,349,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of TAT Technologies by 142.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 39,109 shares of the aerospace company’s stock valued at $1,019,000 after acquiring an additional 22,987 shares in the last quarter. Marshall Wace LLP bought a new stake in TAT Technologies during the 4th quarter worth $444,000. Jane Street Group LLC acquired a new position in TAT Technologies in the 4th quarter worth about $368,000. Finally, Renaissance Technologies LLC increased its holdings in TAT Technologies by 6.6% in the 4th quarter. Renaissance Technologies LLC now owns 189,301 shares of the aerospace company’s stock worth $4,861,000 after purchasing an additional 11,799 shares in the last quarter. Institutional investors own 15.13% of the company’s stock.

About TAT Technologies

TAT Technologies Ltd., together with its subsidiaries, provides solutions and services to the commercial and military aerospace, and ground defense industries in the United States, Israel, and internationally. The company operates through four segments: Original Equipment Manufacturing (OEM) of Heat Transfer Solutions and Aviation Accessories; Maintenance, Repair, and Overhaul (MRO) Services for Heat Transfer Components and OEM of Heat Transfer Solutions; MRO Services for Aviation Components; and Overhaul and Coating of Jet Engine Components.