B. Riley Financial Lowers Tecnoglass (NYSE:TGLS) Price Target to $65.00

Tecnoglass (NYSE:TGLS) had its price objective cut by equities research analysts at B. Riley Financial from $70.00 to $65.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s target price points to a potential upside of 52.99% from the company’s previous close.

TGLS has been the topic of a number of other reports. DA Davidson lowered their price target on Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tecnoglass in a report on Monday, December 22nd. Finally, Zacks Research cut shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a research report on Monday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.50.

Tecnoglass Price Performance

NYSE:TGLS traded down $1.62 during mid-day trading on Friday, hitting $42.49. The company’s stock had a trading volume of 172,119 shares, compared to its average volume of 354,619. Tecnoglass has a fifty-two week low of $42.47 and a fifty-two week high of $90.34. The company has a current ratio of 1.86, a quick ratio of 1.40 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 0.53 and a beta of 1.72. The stock has a fifty day moving average of $50.65 and a 200-day moving average of $56.85.

Tecnoglass (NYSE:TGLS) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.21). Tecnoglass had a net margin of 16.22% and a return on equity of 23.05%. The company had revenue of $245.30 million for the quarter. During the same quarter last year, the firm earned $1.05 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TGLS. Castleark Management LLC acquired a new position in shares of Tecnoglass during the second quarter worth approximately $3,060,000. American Century Companies Inc. raised its position in Tecnoglass by 14.3% in the 2nd quarter. American Century Companies Inc. now owns 932,926 shares of the company’s stock worth $72,171,000 after purchasing an additional 116,760 shares during the last quarter. Citigroup Inc. lifted its holdings in Tecnoglass by 445.3% during the 3rd quarter. Citigroup Inc. now owns 526,061 shares of the company’s stock worth $35,199,000 after buying an additional 429,590 shares in the last quarter. CenterBook Partners LP bought a new position in Tecnoglass in the 2nd quarter valued at $2,777,000. Finally, Geode Capital Management LLC boosted its position in Tecnoglass by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 557,729 shares of the company’s stock valued at $43,154,000 after buying an additional 29,281 shares during the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high?performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family?run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.