Robert W. Baird Raises Tecnoglass (NASDAQ:TGLS) Price Target to $88.00

Tecnoglass (NASDAQ:TGLS) had its price objective increased by analysts at Robert W. Baird from $85.00 to $88.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 25.64% from the company’s current price.

Several other brokerages have also issued reports on TGLS. DA Davidson boosted their price target on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus boosted their price target on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Sidoti lowered Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research note on Tuesday, October 22nd. Finally, B. Riley restated a “neutral” rating and set a $72.00 price target (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Tecnoglass currently has an average rating of “Hold” and a consensus price target of $72.40.

Tecnoglass Trading Down 0.3 %

Tecnoglass stock opened at $70.04 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43. The business’s 50-day simple moving average is $68.38 and its 200-day simple moving average is $58.17. The firm has a market capitalization of $3.29 billion, a PE ratio of 22.45 and a beta of 1.86. Tecnoglass has a 52 week low of $30.88 and a 52 week high of $80.51.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The business had revenue of $219.65 million for the quarter, compared to analyst estimates of $219.29 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. Equities research analysts forecast that Tecnoglass will post 3.46 earnings per share for the current year.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors have recently added to or reduced their stakes in TGLS. William Blair Investment Management LLC boosted its holdings in Tecnoglass by 232.8% during the first quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock valued at $84,017,000 after purchasing an additional 1,129,603 shares in the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of Tecnoglass by 219.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after acquiring an additional 149,933 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Tecnoglass by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after acquiring an additional 96,602 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Tecnoglass in the 2nd quarter worth approximately $3,929,000. Finally, Impax Asset Management Group plc boosted its holdings in shares of Tecnoglass by 65.0% in the 3rd quarter. Impax Asset Management Group plc now owns 165,000 shares of the company’s stock worth $11,329,000 after acquiring an additional 65,000 shares in the last quarter. 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.