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

Tecnoglass (NASDAQ:TGLS) had its price target raised by equities researchers at DA Davidson from $65.00 to $90.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 22.13% from the company’s previous close.

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

Tecnoglass Stock Down 7.2 %

Shares of Tecnoglass stock traded down $5.68 during trading on Tuesday, reaching $73.69. The company had a trading volume of 649,863 shares, compared to its average volume of 370,139. 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 firm’s fifty day moving average is $69.01 and its 200-day moving average is $58.52. Tecnoglass has a fifty-two week low of $32.69 and a fifty-two week high of $80.51. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 22.87 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last posted its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.97 by $0.11. Tecnoglass had a return on equity of 28.30% and a net margin of 17.82%. The firm had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. During the same period last year, the firm earned $0.98 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. On average, analysts anticipate that Tecnoglass will post 3.52 EPS for the current year.

Institutional Investors Weigh In On Tecnoglass

Hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC grew its position in Tecnoglass by 4,735.7% during 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. Amalgamated Bank bought a new stake in Tecnoglass during the second quarter worth about $39,000. EntryPoint Capital LLC bought a new stake in Tecnoglass during the first quarter worth about $227,000. X Square Capital LLC increased its position 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 purchasing an additional 237 shares during the last quarter. Finally, PFG Investments LLC bought a new position in shares of Tecnoglass during the 2nd quarter valued at about $220,000. Institutional investors 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.