TAT Technologies (NASDAQ:TATT) Shares Gap Up – Here’s What Happened

TAT Technologies Ltd. (NASDAQ:TATT)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $40.06, but opened at $42.93. TAT Technologies shares last traded at $41.5070, with a volume of 36,400 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have commented on TATT. Jones Trading started coverage on TAT Technologies in a research report on Friday, October 10th. They set a “buy” rating and a $50.00 price objective for the company. Wall Street Zen raised TAT Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, August 17th. Weiss Ratings lowered shares of TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Truist Financial boosted their price target on TAT Technologies from $35.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Stifel Nicolaus assumed coverage on TAT Technologies in a research report on Tuesday, September 16th. They set a “buy” rating and a $44.00 price objective on the stock. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.60.

TAT Technologies Stock Up 4.5%

The firm has a market cap of $526.23 million, a PE ratio of 34.33 and a beta of 0.85. The stock has a 50-day simple moving average of $40.56 and a two-hundred day simple moving average of $34.80. The company has a quick ratio of 2.42, a current ratio of 4.67 and a debt-to-equity ratio of 0.06.

TAT Technologies (NASDAQ:TATT) last announced its earnings results on Wednesday, November 12th. The aerospace company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). TAT Technologies had a net margin of 8.21% and a return on equity of 10.90%. The business had revenue of $46.24 million for the quarter, compared to the consensus estimate of $46.27 million.

Institutional Investors Weigh In On TAT Technologies

Large investors have recently bought and sold shares of the business. Virtus Advisers LLC purchased a new stake in TAT Technologies during the 1st quarter valued at $45,000. PNC Financial Services Group Inc. purchased a new stake in TAT Technologies in the third quarter worth about $53,000. Quantbot Technologies LP purchased a new stake in TAT Technologies during the third quarter worth $121,000. Osaic Holdings Inc. grew its stake in TAT Technologies by 470.9% in the second quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company’s stock valued at $166,000 after purchasing an additional 4,474 shares during the last quarter. Finally, GWN Securities Inc. purchased a new position in TAT Technologies in the third quarter worth $202,000. 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.