DA Davidson Increases Tecnoglass (NASDAQ:TGLS) Price Target to $90.00

Tecnoglass (NASDAQ:TGLS) had its price target hoisted by research analysts at DA Davidson from $65.00 to $90.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price objective indicates a potential upside of 22.13% from the stock’s current price.

A number of other research firms have also weighed in on TGLS. B. Riley reiterated a “neutral” rating and set a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Robert W. Baird increased their target price on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus increased their target price 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, Sidoti lowered Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $77.40.

Tecnoglass Stock Performance

Shares of TGLS stock traded down $5.68 during trading hours on Tuesday, reaching $73.69. 649,863 shares of the company traded hands, compared to its average volume of 370,139. Tecnoglass has a 12-month low of $32.69 and a 12-month high of $80.51. The company has a market cap of $3.46 billion, a P/E ratio of 22.87 and a beta of 1.86. The firm has a 50-day moving average price of $69.01 and a 200 day moving average price of $58.52. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. The business had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 28.30%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share. As a group, sell-side analysts predict that Tecnoglass will post 3.52 earnings per share for the current fiscal year.

Institutional Trading of Tecnoglass

Large investors have recently bought and sold shares of the company. Amalgamated Bank purchased a new position in Tecnoglass in the 2nd quarter valued at about $39,000. Signaturefd LLC raised its holdings in Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after buying an additional 663 shares during the period. X Square Capital LLC lifted its holdings in shares of Tecnoglass by 5.7% during the 2nd 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. PFG Investments LLC acquired a new stake in shares of Tecnoglass in the second quarter valued at about $220,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Tecnoglass during the first quarter valued at approximately $227,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

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.