Robert W. Baird Increases Tecnoglass (NASDAQ:TGLS) Price Target to $76.00

Tecnoglass (NASDAQ:TGLS) had its price target boosted by stock analysts at Robert W. Baird from $68.00 to $76.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 13.45% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. DA Davidson lifted their price target on Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Sidoti upgraded shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a report on Wednesday, June 26th. Finally, Stifel Nicolaus increased their price target 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. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.17.

Tecnoglass Trading Down 0.9 %

Shares of TGLS opened at $66.99 on Tuesday. 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 fifty-two week low of $28.21 and a fifty-two week high of $68.95. The firm has a 50 day moving average price of $57.46 and a 200-day moving average price of $53.35. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 19.31 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $219.65 million during the quarter, compared to analyst estimates of $219.29 million. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 earnings per share. As a group, equities research analysts forecast that Tecnoglass will post 3.42 earnings per share for the current year.

Institutional Investors Weigh In On Tecnoglass

Several institutional investors and hedge funds have recently modified their holdings of the stock. Amalgamated Bank bought a new position in Tecnoglass in the second quarter worth about $39,000. X Square Capital LLC raised its position in shares of Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after acquiring an additional 237 shares in the last quarter. PFG Investments LLC purchased a new position in shares of Tecnoglass in the 2nd quarter valued at approximately $220,000. EntryPoint Capital LLC purchased a new position in shares of Tecnoglass in the 1st quarter valued at approximately $227,000. Finally, Tidal Investments LLC bought a new stake in shares of Tecnoglass during the first quarter valued at approximately $245,000. 37.35% of the stock is owned by hedge funds and other institutional investors.

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.