Robert W. Baird Cuts Tecnoglass (NASDAQ:TGLS) Price Target to $64.00

Tecnoglass (NASDAQ:TGLS) had its target price cut by equities researchers at Robert W. Baird from $65.00 to $64.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 16.11% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. B. Riley increased 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. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and increased their price target for the stock from $56.00 to $59.00 in a research note on Wednesday, May 1st. Stifel Nicolaus cut 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. Finally, DA Davidson reaffirmed a “buy” rating and set a $50.00 target price on shares of Tecnoglass in a research note on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.67.

Tecnoglass Price Performance

Shares of NASDAQ TGLS opened at $55.12 on Tuesday. Tecnoglass has a 1-year low of $28.21 and a 1-year high of $59.76. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.27 and a quick ratio of 1.60. The business’s fifty day moving average price is $51.72 and its two-hundred day moving average price is $44.50. The firm has a market capitalization of $2.59 billion, a PE ratio of 14.32 and a beta of 1.79.

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 firm had revenue of $194.60 million for the quarter, compared to analyst estimates of $199.93 million. On average, research analysts expect that Tecnoglass will post 3.7 EPS for the current year.

Institutional Investors Weigh In On Tecnoglass

Several hedge funds have recently bought and sold shares of TGLS. American Century Companies Inc. lifted its stake in Tecnoglass by 84.6% in the 3rd quarter. American Century Companies Inc. now owns 2,105,685 shares of the company’s stock worth $69,403,000 after acquiring an additional 965,316 shares in the last quarter. Owls Nest Partners IA LLC lifted its stake in Tecnoglass by 200.1% in the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock worth $26,410,000 after acquiring an additional 385,265 shares in the last quarter. Cooke & Bieler LP lifted its stake in Tecnoglass by 35.8% in the 4th quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock worth $59,431,000 after acquiring an additional 342,451 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Tecnoglass by 58.8% in the 4th quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock worth $37,288,000 after acquiring an additional 302,163 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new stake in shares of Tecnoglass during the 3rd quarter worth about $9,837,000. 37.35% of the stock is owned by hedge funds and other institutional investors.

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.