DA Davidson Issues Pessimistic Forecast for Tecnoglass (NYSE:TGLS) Stock Price

Tecnoglass (NYSE:TGLS) had its price target lowered by equities research analysts at DA Davidson from $80.00 to $70.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 52.51% from the company’s current price.

A number of other research analysts have also recently issued reports on TGLS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tecnoglass in a report on Monday, December 22nd. Zacks Research upgraded Tecnoglass from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.00.

Tecnoglass Price Performance

Tecnoglass stock opened at $45.90 on Monday. The company has a market cap of $2.14 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 0.53 and a beta of 1.72. Tecnoglass has a one year low of $43.09 and a one year high of $90.34. The business has a fifty day moving average of $50.93 and a two-hundred day moving average of $57.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.40 and a current ratio of 1.98.

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

Institutional Investors Weigh In On Tecnoglass

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in Tecnoglass by 8.3% during the first quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock worth $224,000 after buying an additional 238 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Tecnoglass by 25.8% during the first quarter. AQR Capital Management LLC now owns 3,505 shares of the company’s stock valued at $251,000 after acquiring an additional 719 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Tecnoglass by 21.4% during the first quarter. Intech Investment Management LLC now owns 17,918 shares of the company’s stock valued at $1,282,000 after acquiring an additional 3,161 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Tecnoglass during the 2nd quarter worth about $293,000. Finally, Bryce Point Capital LLC purchased a new stake in Tecnoglass during the 2nd quarter worth about $691,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

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.