Robert W. Baird Raises Tecnoglass (NASDAQ:TGLS) Price Target to $85.00

Tecnoglass (NASDAQ:TGLS) had its price objective increased by analysts at Robert W. Baird from $76.00 to $85.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 8.83% from the stock’s previous close.

Several other research firms have also issued reports on TGLS. 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. DA Davidson upped their target price on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Sidoti upgraded Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a report on Wednesday, June 26th. Finally, Stifel Nicolaus increased their price target on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.67.

Tecnoglass Price Performance

TGLS stock opened at $78.10 on Monday. The company has a market capitalization of $3.67 billion, a P/E ratio of 22.51 and a beta of 1.86. The company has a fifty day moving average price of $65.53 and a 200-day moving average price of $56.89. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43. Tecnoglass has a 52-week low of $28.21 and a 52-week high of $78.82.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $219.65 million during the quarter, compared to analysts’ expectations of $219.29 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share. As a group, equities analysts expect that Tecnoglass will post 3.44 EPS for the current year.

Hedge Funds Weigh In On Tecnoglass

Large investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Tecnoglass in the third quarter valued at $488,000. Sanctuary Advisors LLC acquired a new stake in shares of Tecnoglass in the 2nd quarter worth about $1,964,000. The Manufacturers Life Insurance Company bought a new position in Tecnoglass in the 2nd quarter valued at about $589,000. Dark Forest Capital Management LP boosted its stake in Tecnoglass by 28.6% during the 2nd quarter. Dark Forest Capital Management LP now owns 12,542 shares of the company’s stock valued at $629,000 after purchasing an additional 2,789 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in Tecnoglass by 219.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after purchasing an additional 149,933 shares in the last quarter. 37.35% of the stock is currently 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.