Tecnoglass (NYSE:TGLS) Given New $70.00 Price Target at DA Davidson

Tecnoglass (NYSE:TGLS) had its price target reduced by DA Davidson from $80.00 to $70.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently weighed in on TGLS. Zacks Research upgraded shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tecnoglass in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Tecnoglass Stock Performance

NYSE:TGLS opened at $45.19 on Monday. The company has a market capitalization of $2.10 billion, a P/E ratio of 13.21, a P/E/G ratio of 0.50 and a beta of 1.72. The business has a fifty day simple moving average of $51.03 and a two-hundred day simple moving average of $57.21. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.40. Tecnoglass has a 1 year low of $43.21 and a 1 year high of $90.34.

Tecnoglass (NYSE:TGLS) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.63 EPS 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 22.93%. The firm had revenue of $245.30 million for the quarter. During the same quarter in the previous year, the company earned $1.05 earnings per share. Tecnoglass’s revenue was up 3.0% on a year-over-year basis.

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, December 31st. Tecnoglass’s dividend payout ratio is 17.54%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. First Horizon Corp bought a new position in shares of Tecnoglass in the third quarter worth $28,000. Kemnay Advisory Services Inc. purchased a new position in Tecnoglass during the fourth quarter worth about $28,000. Arax Advisory Partners increased its stake in Tecnoglass by 128.4% in the 4th quarter. Arax Advisory Partners now owns 596 shares of the company’s stock worth $30,000 after acquiring an additional 335 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Tecnoglass by 290.2% in the 3rd quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock valued at $40,000 after acquiring an additional 444 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Tecnoglass by 223.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock valued at $43,000 after acquiring an additional 440 shares during the last quarter. 37.35% of the stock is owned by institutional investors.

Tecnoglass Company Profile

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.