Tecnoglass (NASDAQ:TGLS) Price Target Raised to $65.00

Tecnoglass (NASDAQ:TGLS) had its target price upped by DA Davidson from $60.00 to $65.00 in a research note released on Tuesday morning, Benzinga reports. DA Davidson currently has a buy rating on the stock. DA Davidson also issued estimates for Tecnoglass’ Q3 2024 earnings at $0.95 EPS and FY2025 earnings at $3.93 EPS.

TGLS has been the topic of a number of other reports. Stifel Nicolaus lifted their target price on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a hold rating in a research note on Friday, August 9th. Robert W. Baird lifted their target price on shares of Tecnoglass from $60.00 to $68.00 and gave the stock an outperform rating in a research note on Friday, August 9th. Sidoti raised shares of Tecnoglass from a neutral rating to a buy rating and set a $68.00 target price on the stock in a research note on Wednesday, June 26th. Finally, B. Riley reiterated a buy rating and set a $60.00 price target (down from $65.00) on shares of Tecnoglass in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tecnoglass currently has a consensus rating of Moderate Buy and an average price target of $60.83.

Tecnoglass Stock Performance

NASDAQ:TGLS opened at $59.96 on Tuesday. The company’s 50-day moving average price is $50.20 and its 200-day moving average price is $50.61. The company has a current ratio of 2.33, a quick ratio of 1.72 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.82 billion, a P/E ratio of 17.28 and a beta of 1.85. Tecnoglass has a twelve month low of $28.21 and a twelve month high of $61.03.

Tecnoglass (NASDAQ:TGLS) last issued its earnings results on Thursday, August 8th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Tecnoglass had a net margin of 19.97% and a return on equity of 31.85%. The company had revenue of $219.65 million for the quarter, compared to the consensus estimate of $219.29 million. During the same period in the previous year, the firm earned $1.12 earnings per share. Tecnoglass’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, sell-side analysts forecast that Tecnoglass will post 3.37 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Friday, June 28th. Tecnoglass’s dividend payout ratio (DPR) is currently 12.68%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Crossmark Global Holdings Inc. grew its holdings in shares of Tecnoglass by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after purchasing an additional 220 shares in the last quarter. X Square Capital LLC grew its holdings in Tecnoglass by 5.7% during the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after acquiring an additional 237 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Tecnoglass by 1.9% during the 4th quarter. SummerHaven Investment Management LLC now owns 13,169 shares of the company’s stock worth $602,000 after acquiring an additional 250 shares in the last quarter. Moran Wealth Management LLC grew its holdings in Tecnoglass by 5.6% during the 4th quarter. Moran Wealth Management LLC now owns 8,914 shares of the company’s stock worth $407,000 after acquiring an additional 472 shares in the last quarter. Finally, Amalgamated Bank acquired a new position in Tecnoglass during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

About Tecnoglass

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.