TAT Technologies (NASDAQ:TATT) Shares Gap Up – Should You Buy?

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 Analysts Forecast Growth

TATT has been the topic of a number of recent analyst reports. Truist Financial cut their target price on shares of TAT Technologies from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday. Weiss Ratings raised shares of TAT Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Stifel Nicolaus increased their target price on shares of TAT Technologies from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Friday. Zacks Research lowered shares of TAT Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Finally, Wall Street Zen downgraded shares of TAT Technologies from a “buy” rating to a “hold” rating in a research report on Saturday. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, TAT Technologies has an average rating of “Moderate Buy” and a consensus target price of $44.40.

TAT Technologies Trading Up 0.7%

The firm has a 50-day moving average of $40.79 and a 200 day moving average of $34.91. The company has a current ratio of 4.67, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $503.10 million, a price-to-earnings ratio of 32.82 and a beta of 0.85.

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

Institutional Investors Weigh In On TAT Technologies

Institutional investors have recently added to or reduced their stakes in the company. Meitav Investment House Ltd. increased its position in shares of TAT Technologies by 61.7% during the 2nd quarter. Meitav Investment House Ltd. now owns 1,454,618 shares of the aerospace company’s stock valued at $44,722,000 after purchasing an additional 555,286 shares during the period. Wasatch Advisors LP boosted its stake in TAT Technologies by 143.0% during the second quarter. Wasatch Advisors LP now owns 781,216 shares of the aerospace company’s stock valued at $23,858,000 after buying an additional 459,693 shares in the last quarter. Boston Partners acquired a new position in TAT Technologies during the second quarter worth about $13,205,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in TAT Technologies in the second quarter worth about $11,025,000. Finally, Roubaix Capital LLC lifted its holdings in TAT Technologies by 6.6% in the 3rd quarter. Roubaix Capital LLC now owns 250,141 shares of the aerospace company’s stock valued at $11,014,000 after acquiring an additional 15,477 shares during the last quarter. 15.13% of the stock is currently owned by institutional investors and hedge funds.

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.