DA Davidson Issues Positive Forecast for Tecnoglass (NASDAQ:TGLS) Stock Price

Tecnoglass (NASDAQ:TGLS) had its target price raised by DA Davidson from $65.00 to $90.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock. DA Davidson also issued estimates for Tecnoglass’ Q4 2024 earnings at $0.98 EPS, FY2024 earnings at $3.42 EPS and FY2025 earnings at $4.06 EPS.

Several other research analysts have also commented on TGLS. Robert W. Baird lifted their price target on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a research report on Tuesday, October 22nd. Stifel Nicolaus boosted their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, B. Riley restated a “neutral” rating and issued a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $77.40.

Tecnoglass Stock Performance

NASDAQ TGLS opened at $73.17 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. Tecnoglass has a 1-year low of $33.19 and a 1-year high of $80.51. The business has a 50 day simple moving average of $70.13 and a two-hundred day simple moving average of $58.98. The stock has a market capitalization of $3.44 billion, a PE ratio of 22.87 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.11. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The company had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. During the same quarter in the previous year, the business posted $0.98 earnings per share. Tecnoglass’s quarterly revenue was up 13.1% on a year-over-year basis. On average, research analysts predict that Tecnoglass will post 3.55 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.11 per share. The ex-dividend date was Monday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.60%. Tecnoglass’s dividend payout ratio (DPR) is 13.75%.

Insider Activity

In other news, Director Julio A. Torres sold 30,520 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the completion of the sale, the insider now owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TGLS. Prevail Innovative Wealth Advisors LLC purchased a new position in Tecnoglass in the first quarter valued at about $2,074,000. Rhumbline Advisers acquired a new stake in Tecnoglass in the second quarter worth about $1,468,000. The Manufacturers Life Insurance Company purchased a new stake in Tecnoglass during the 2nd quarter worth approximately $589,000. Semanteon Capital Management LP purchased a new stake in shares of Tecnoglass during the third quarter valued at $1,237,000. Finally, GSA Capital Partners LLP increased its holdings in shares of Tecnoglass by 262.4% in the third quarter. GSA Capital Partners LLP now owns 20,089 shares of the company’s stock valued at $1,379,000 after purchasing an additional 14,545 shares during the period. 37.35% of the stock is owned by institutional investors.

Tecnoglass Company Profile

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.