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

Tecnoglass (NASDAQ:TGLS) had its target price boosted by equities research analysts at Robert W. Baird from $56.00 to $65.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 12.50% from the stock’s current price.

TGLS has been the subject of several other research reports. Stifel Nicolaus downgraded 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. B. Riley upped their price target on Tecnoglass from $51.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Finally, DA Davidson reiterated a “buy” rating and set a $50.00 price target on shares of Tecnoglass in a research note on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Tecnoglass Trading Up 1.1 %

Shares of Tecnoglass stock traded up $0.63 on Thursday, reaching $57.78. 91,752 shares of the company were exchanged, compared to its average volume of 347,487. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 15.01 and a beta of 1.80. Tecnoglass has a fifty-two week low of $28.21 and a fifty-two week high of $59.76. The company has a current ratio of 2.27, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $49.17 and a 200-day moving average price of $42.46.

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

Hedge Funds Weigh In On Tecnoglass

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. increased its holdings in Tecnoglass by 84.6% during the 3rd quarter. American Century Companies Inc. now owns 2,105,685 shares of the company’s stock valued at $69,403,000 after purchasing an additional 965,316 shares in the last quarter. BlackRock Inc. boosted its position in Tecnoglass by 107.4% in the 1st quarter. BlackRock Inc. now owns 994,989 shares of the company’s stock valued at $25,114,000 after buying an additional 515,151 shares during the last quarter. Owls Nest Partners IA LLC boosted its position in Tecnoglass by 200.1% in the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock valued at $26,410,000 after buying an additional 385,265 shares during the last quarter. Cooke & Bieler LP boosted its position in Tecnoglass by 35.8% in the 4th quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock valued at $59,431,000 after buying an additional 342,451 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Tecnoglass by 58.8% in the 4th quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock valued at $37,288,000 after buying an additional 302,163 shares during the last quarter. 37.35% of the stock is owned by institutional investors and hedge funds.

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.