Tecnoglass (NASDAQ:TGLS) Price Target Raised to $65.00 at DA Davidson

Tecnoglass (NASDAQ:TGLS) had its price objective lifted by equities researchers at DA Davidson from $60.00 to $65.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s target price would indicate a potential upside of 13.60% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus boosted their target price on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday. B. Riley restated a “buy” rating and set a $60.00 price objective (down from $65.00) on shares of Tecnoglass in a research note on Friday, May 10th. Robert W. Baird upped their price objective on Tecnoglass from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Sidoti upgraded Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.83.

Tecnoglass Stock Up 3.5 %

Shares of TGLS traded up $1.94 during trading hours on Tuesday, hitting $57.22. The company had a trading volume of 250,511 shares, compared to its average volume of 397,151. The firm has a fifty day moving average price of $49.89 and a 200-day moving average price of $50.48. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.72 and a current ratio of 2.33. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 16.55 and a beta of 1.85. Tecnoglass has a 52-week low of $28.21 and a 52-week high of $59.76.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. The company had revenue of $219.65 million during the quarter, compared to the consensus estimate of $219.29 million. Tecnoglass had a return on equity of 31.85% and a net margin of 19.97%. Tecnoglass’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the company earned $1.12 EPS. On average, equities research analysts forecast that Tecnoglass will post 3.37 EPS for the current fiscal year.

Institutional Trading of Tecnoglass

Several institutional investors have recently bought and sold shares of TGLS. Crossmark Global Holdings Inc. lifted its position in shares of Tecnoglass by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after acquiring an additional 220 shares in the last quarter. X Square Capital LLC lifted its position in shares of Tecnoglass by 5.7% in the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after acquiring an additional 237 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Tecnoglass by 1.9% in the fourth quarter. SummerHaven Investment Management LLC now owns 13,169 shares of the company’s stock valued at $602,000 after acquiring an additional 250 shares in the last quarter. Moran Wealth Management LLC lifted its position in Tecnoglass by 5.6% during the fourth quarter. Moran Wealth Management LLC now owns 8,914 shares of the company’s stock worth $407,000 after buying an additional 472 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in Tecnoglass during the second quarter worth approximately $39,000. 37.35% of the stock is owned by institutional investors and hedge funds.

About Tecnoglass

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.