TAT Technologies (NASDAQ:TATT) Shares Gap Down After Earnings Miss

TAT Technologies Ltd. (NASDAQ:TATT) shares gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $56.55, but opened at $51.05. TAT Technologies shares last traded at $53.7990, with a volume of 121,068 shares traded.

The aerospace company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). TAT Technologies had a net margin of 9.45% and a return on equity of 10.69%. The company had revenue of $46.53 million during the quarter, compared to the consensus estimate of $48.04 million.

Analyst Upgrades and Downgrades

TATT has been the topic of several research analyst reports. Zacks Research upgraded shares of TAT Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “buy (b)” rating on shares of TAT Technologies in a research report on Monday, December 29th. Freedom Capital upgraded TAT Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Benchmark lifted their price target on TAT Technologies from $58.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $59.00 price objective on shares of TAT Technologies in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $56.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Greenline Wealth Management LLC purchased a new position in TAT Technologies during the fourth quarter valued at $41,000. Royal Bank of Canada increased its holdings in shares of 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 acquiring an additional 1,018 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of TAT Technologies in the 3rd quarter worth about $53,000. Quantbot Technologies LP bought a new position in TAT Technologies in the 3rd quarter worth about $121,000. Finally, GWN Securities Inc. purchased a new stake in TAT Technologies during the 3rd quarter valued at about $202,000. Institutional investors own 15.13% of the company’s stock.

TAT Technologies Stock Down 9.1%

The company has a market capitalization of $558.27 million, a PE ratio of 31.39 and a beta of 0.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.34 and a current ratio of 4.89. The company’s 50-day moving average is $53.05 and its 200 day moving average is $45.21.

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.