TAT Technologies (NASDAQ:TATT) Posts Earnings Results, Misses Estimates By $0.03 EPS

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

TAT Technologies Price Performance

TATT stock traded up $0.03 during mid-day trading on Friday, hitting $39.81. The company had a trading volume of 76,560 shares, compared to its average volume of 143,076. The company has a market capitalization of $500.15 million, a price-to-earnings ratio of 32.77 and a beta of 0.85. The company has a 50-day moving average price of $40.66 and a 200 day moving average price of $34.83. 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 has a 12-month low of $18.87 and a 12-month high of $45.83.

Institutional Trading of TAT Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TATT. Wasatch Advisors LP increased its holdings 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 during the period. Russell Investments Group Ltd. raised its holdings in TAT Technologies by 11.8% in the third quarter. Russell Investments Group Ltd. now owns 150,800 shares of the aerospace company’s stock worth $6,640,000 after purchasing an additional 15,928 shares in the last quarter. Marshall Wace LLP grew its position in shares of TAT Technologies by 31.6% in the 2nd quarter. Marshall Wace LLP now owns 80,987 shares of the aerospace company’s stock worth $2,473,000 after buying an additional 19,428 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in TAT Technologies by 70.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 74,984 shares of the aerospace company’s stock valued at $2,316,000 after acquiring an additional 31,104 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of TAT Technologies by 470.4% during the second quarter. JPMorgan Chase & Co. now owns 69,618 shares of the aerospace company’s stock worth $2,126,000 after purchasing an additional 57,412 shares in the last quarter. 15.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Weiss Ratings downgraded TAT Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Jones Trading began coverage on TAT Technologies in a research note on Friday, October 10th. They issued a “buy” rating and a $50.00 price target on the stock. Truist Financial decreased their target price on shares of TAT Technologies from $56.00 to $52.00 and set a “buy” rating for the company in a report on Friday. Wall Street Zen upgraded shares of TAT Technologies from a “hold” rating to a “buy” rating in a report on Sunday, August 17th. Finally, Stifel Nicolaus raised their price target on TAT Technologies from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, TAT Technologies presently has an average rating of “Moderate Buy” and an average target price of $44.40.

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.