Tecnoglass (NASDAQ:TGLS) Price Target Raised to $65.00 at Robert W. Baird

Tecnoglass (NASDAQ:TGLS) had its target price increased by equities research analysts at Robert W. Baird from $56.00 to $65.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 12.50% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. B. Riley upped their price objective on shares of Tecnoglass from $51.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. DA Davidson reaffirmed a “buy” rating and set a $50.00 price objective on shares of Tecnoglass in a research note on Monday, March 4th. Finally, Stifel Nicolaus downgraded shares of Tecnoglass from a “buy” rating to a “hold” rating and decreased their price target for the stock from $48.00 to $45.00 in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Tecnoglass Trading Up 1.1 %

Shares of TGLS stock traded up $0.63 during mid-day trading on Thursday, reaching $57.78. The stock had a trading volume of 91,752 shares, compared to its average volume of 347,487. The firm has a market capitalization of $2.72 billion, a PE ratio of 15.01 and a beta of 1.80. The stock’s 50-day moving average price is $49.17 and its two-hundred day moving average price is $42.46. The company has a current ratio of 2.27, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30. Tecnoglass has a 52-week low of $28.21 and a 52-week high of $59.76.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.75 by $0.05. The firm had revenue of $194.60 million during the quarter, compared to the consensus estimate of $199.93 million. Tecnoglass had a net margin of 21.95% and a return on equity of 38.92%. Equities analysts expect that Tecnoglass will post 3.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tecnoglass

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. grew its holdings in Tecnoglass by 84.6% in the third quarter. American Century Companies Inc. now owns 2,105,685 shares of the company’s stock worth $69,403,000 after purchasing an additional 965,316 shares during the period. Cooke & Bieler LP grew its holdings in Tecnoglass by 35.8% in the fourth quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock worth $59,431,000 after purchasing an additional 342,451 shares during the period. BlackRock Inc. grew its holdings in Tecnoglass by 107.4% in the first quarter. BlackRock Inc. now owns 994,989 shares of the company’s stock worth $25,114,000 after purchasing an additional 515,151 shares during the period. Millennium Management LLC grew its holdings in Tecnoglass by 36.4% in the fourth quarter. Millennium Management LLC now owns 830,894 shares of the company’s stock worth $25,567,000 after purchasing an additional 221,679 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Tecnoglass by 58.8% in the fourth quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock worth $37,288,000 after purchasing an additional 302,163 shares during the period. Hedge funds and other 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.