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

TAT Technologies (NASDAQ:TATT) released its quarterly earnings data on Wednesday. The aerospace company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03), FiscalAI reports. TAT Technologies had a net margin of 9.08% and a return on equity of 11.10%. The company had revenue of $46.53 million during the quarter, compared to analyst estimates of $48.04 million.

TAT Technologies Stock Performance

TATT stock opened at $56.55 on Thursday. The firm has a 50 day moving average of $53.29 and a two-hundred day moving average of $45.15. TAT Technologies has a 12 month low of $23.92 and a 12 month high of $64.50. The company has a market capitalization of $710.27 million, a price-to-earnings ratio of 42.52 and a beta of 0.93. The company has a quick ratio of 2.34, a current ratio of 4.44 and a debt-to-equity ratio of 0.06.

Institutional Investors Weigh In On TAT Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Greenline Wealth Management LLC acquired a new position in TAT Technologies during the fourth quarter worth $41,000. Royal Bank of Canada raised its holdings in TAT Technologies by 978.8% during 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. acquired a new stake in shares of TAT Technologies in the third quarter worth about $53,000. Morgan Dempsey Capital Management LLC lifted its position in shares of 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 worth $372,000 after buying an additional 1,249 shares during the last quarter. Finally, Fred Alger Management LLC boosted its stake in shares of TAT Technologies by 12.4% during the 4th quarter. Fred Alger Management LLC now owns 11,640 shares of the aerospace company’s stock worth $520,000 after acquiring an additional 1,280 shares in the last quarter. Institutional investors and hedge funds own 15.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Zacks Research upgraded shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of TAT Technologies in a report on Monday, December 29th. Lake Street Capital reissued a “buy” rating and set a $59.00 price objective on shares of TAT Technologies in a research report on Wednesday, February 4th. Benchmark boosted their target price on TAT Technologies from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Finally, Wall Street Zen lowered TAT Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $54.50.

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.