TAT Technologies (NASDAQ:TATT) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS
TAT Technologies reported quarterly earnings of $0.37 EPS, missing analysts' expectations of $0.40. The company has a net margin of 8.21% and a return on equity of 10.90%. Despite the earnings miss, shares rose $0.72 to $40.06. Analysts have mixed ratings, with a moderate buy consensus and a target price of $44.60. Institutional investors have adjusted their positions in the stock.
TAT Technologies (NASDAQ:TATT - Get Free Report) released its quarterly earnings data on Wednesday. The aerospace company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03), Zacks reports. TAT Technologies had a net margin of 8.21% and a return on equity of 10.90%.
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TAT Technologies Price Performance
Shares of TAT Technologies stock traded up $0.72 during trading on Wednesday, reaching $40.06. 166,581 shares of the company's stock were exchanged, compared to its average volume of 143,367. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 4.67. TAT Technologies has a 1-year low of $18.87 and a 1-year high of $45.83. The company has a market cap of $503.35 million, a P/E ratio of 32.84 and a beta of 0.85. The firm's 50-day moving average price is $40.47 and its 200 day moving average price is $34.76.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Jones Trading initiated coverage on shares of TAT Technologies in a report on Friday, October 10th. They issued a "buy" rating and a $50.00 price objective on the stock. Truist Financial lifted their target price on shares of TAT Technologies from $35.00 to $56.00 and gave the stock a "buy" rating in a report on Wednesday, October 15th. Weiss Ratings cut shares of TAT Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Stifel Nicolaus began coverage on shares of TAT Technologies in a research report on Tuesday, September 16th. They set a "buy" rating and a $44.00 price objective for the company. Finally, Zacks Research downgraded TAT Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 13th. 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 data from MarketBeat, TAT Technologies presently has an average rating of "Moderate Buy" and an average target price of $44.60.
Check Out Our Latest Research Report on TATT
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. acquired a new position in TAT Technologies during the 3rd quarter worth approximately $53,000. Quantbot Technologies LP acquired a new stake in TAT Technologies in the third quarter valued at approximately $121,000. Osaic Holdings Inc. grew its stake in shares of TAT Technologies by 470.9% during the second quarter. Osaic Holdings Inc. now owns 5,424 shares of the aerospace company's stock worth $166,000 after buying an additional 4,474 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of TAT Technologies during the first quarter worth $207,000. Finally, PDT Partners LLC acquired a new position in shares of TAT Technologies during the second quarter worth $228,000. Institutional investors own 15.13% of the company's stock.
TAT Technologies Company Profile
(Get Free Report)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.
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