B. Riley Financial Forecasts Strong Price Appreciation for TAT Technologies (NASDAQ:TATT) Stock

TAT Technologies (NASDAQ:TATT) had its price objective boosted by research analysts at B. Riley Financial from $61.00 to $65.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. B. Riley Financial’s price objective points to a potential upside of 50.45% from the stock’s previous close.

TATT has been the topic of a number of other reports. Weiss Ratings lowered TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 15th. Zacks Research upgraded shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Benchmark restated a “buy” rating on shares of TAT Technologies in a research note on Wednesday, July 15th. Truist Financial raised shares of TAT Technologies to a “strong-buy” rating in a report on Friday, May 1st. Finally, William Blair reiterated a “hold” rating on shares of TAT Technologies in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.86.

TAT Technologies Stock Performance

Shares of TATT stock traded up $0.58 on Thursday, reaching $43.20. The stock had a trading volume of 29,100 shares, compared to its average volume of 195,084. The company has a quick ratio of 2.46, a current ratio of 4.69 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average is $43.40 and its two-hundred day moving average is $45.07. The firm has a market capitalization of $561.55 million, a price-to-earnings ratio of 33.49 and a beta of 1.00. TAT Technologies has a 12 month low of $30.35 and a 12 month high of $64.50.

TAT Technologies (NASDAQ:TATT) last announced its quarterly earnings results on Wednesday, August 5th. The aerospace company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $52.94 million for the quarter, compared to the consensus estimate of $44.86 million. TAT Technologies had a return on equity of 9.47% and a net margin of 9.27%. On average, research analysts expect that TAT Technologies will post 1.52 EPS for the current fiscal year.

Insider Buying and Selling at TAT Technologies

In other TAT Technologies news, COO Jason Lewandowski sold 3,125 shares of TAT Technologies stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $39.22, for a total value of $122,562.50. Following the completion of the transaction, the chief operating officer directly owned 3,125 shares of the company’s stock, valued at $122,562.50. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Maness sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $45.41, for a total value of $227,050.00. Following the sale, the insider owned 5,000 shares of the company’s stock, valued at approximately $227,050. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.75% of the stock is owned by insiders.

Hedge Funds Weigh In On TAT Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Dempsey Capital Management LLC increased its stake in shares of TAT Technologies by 10.4% in the 1st quarter. Morgan Dempsey Capital Management LLC now owns 9,393 shares of the aerospace company’s stock valued at $382,000 after purchasing an additional 888 shares during the last quarter. Greenline Wealth Management LLC acquired a new stake in TAT Technologies in the fourth quarter valued at about $41,000. Royal Bank of Canada boosted its stake in TAT Technologies by 978.8% in the fourth quarter. Royal Bank of Canada now owns 1,122 shares of the aerospace company’s stock valued at $50,000 after buying an additional 1,018 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in TAT Technologies in the third quarter valued at about $53,000. Finally, Fred Alger Management LLC grew its position in TAT Technologies by 12.4% in the fourth quarter. Fred Alger Management LLC now owns 11,640 shares of the aerospace company’s stock valued at $520,000 after acquiring an additional 1,280 shares during the last quarter. 15.13% of the stock is currently owned by institutional investors and hedge funds.

TAT Technologies Company Profile

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.