Tecnoglass (NASDAQ:TGLS) PT Raised to $65.00

Tecnoglass (NASDAQ:TGLS) had its target price lifted by DA Davidson from $60.00 to $65.00 in a research note published 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.

Other research analysts have also issued research reports about the company. Sidoti upgraded Tecnoglass from a neutral rating to a buy rating and set a $68.00 price target for the company in a research report on Wednesday, June 26th. Stifel Nicolaus boosted their target price on Tecnoglass from $50.00 to $59.00 and gave the company a hold rating in a research report on Friday, August 9th. B. Riley restated a buy rating and issued a $60.00 price target (down from $65.00) on shares of Tecnoglass in a research report on Friday, May 10th. Finally, Robert W. Baird boosted their price objective on shares of Tecnoglass from $60.00 to $68.00 and gave the company an outperform rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tecnoglass currently has an average rating of Moderate Buy and an average target price of $60.83.

Tecnoglass Stock Performance

NASDAQ TGLS opened at $58.91 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 1.72. Tecnoglass has a 1-year low of $28.21 and a 1-year high of $61.03. The business has a 50 day simple moving average of $50.46 and a two-hundred day simple moving average of $50.68. The stock has a market capitalization of $2.77 billion, a PE ratio of 16.98 and a beta of 1.85.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $219.29 million. During the same quarter in the previous year, the business posted $1.12 earnings per share. Tecnoglass’s quarterly revenue was down 2.5% on a year-over-year basis. On average, research analysts predict that Tecnoglass will post 3.37 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders 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 0.75%. The ex-dividend date was Friday, June 28th. Tecnoglass’s payout ratio is presently 12.68%.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new position in shares of Tecnoglass during the second quarter worth approximately $589,000. Dark Forest Capital Management LP increased its holdings in Tecnoglass by 28.6% during the 2nd quarter. Dark Forest Capital Management LP now owns 12,542 shares of the company’s stock worth $629,000 after purchasing an additional 2,789 shares during the period. Ensign Peak Advisors Inc increased its holdings in Tecnoglass by 219.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after purchasing an additional 149,933 shares during the period. Amalgamated Bank purchased a new stake in shares of Tecnoglass in the 2nd quarter worth $39,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Tecnoglass by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after buying an additional 96,602 shares in the last quarter. Institutional investors own 37.35% of the company’s stock.

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.