TAT Technologies (NASDAQ:TATT) Reaches New 52-Week High – Time to Buy?

TAT Technologies Ltd. (NASDAQ:TATT) hit a new 52-week high during trading on Tuesday . The company traded as high as $55.89 and last traded at $55.34, with a volume of 92036 shares trading hands. The stock had previously closed at $53.81.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TATT. Stifel Nicolaus lifted their target price on shares of TAT Technologies from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Loop Capital set a $53.00 price objective on shares of TAT Technologies in a research note on Tuesday, December 30th. Freedom Capital upgraded TAT Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Wall Street Zen downgraded TAT Technologies from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of TAT Technologies in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $53.17.

TAT Technologies Price Performance

The company has a market capitalization of $692.56 million, a price-to-earnings ratio of 41.46 and a beta of 0.93. 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’s 50 day simple moving average is $49.04 and its 200-day simple moving average is $42.73.

Institutional Trading of TAT Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Greenline Wealth Management LLC purchased a new position in shares of TAT Technologies during the 4th quarter worth about $41,000. Royal Bank of Canada grew its stake in shares of TAT Technologies by 978.8% during the 4th 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 during the period. PNC Financial Services Group Inc. acquired a new stake in TAT Technologies during the third quarter worth about $53,000. Morgan Dempsey Capital Management LLC raised its holdings in TAT Technologies by 17.2% in the third quarter. Morgan Dempsey Capital Management LLC now owns 8,505 shares of the aerospace company’s stock valued at $372,000 after buying an additional 1,249 shares during the period. Finally, Fred Alger Management LLC raised its stake in shares of TAT Technologies by 12.4% in the 4th 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 period. 15.13% of the stock is owned by hedge funds and other institutional investors.

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.