DA Davidson Cuts Tecnoglass (NYSE:TGLS) Price Target to $70.00

Tecnoglass (NYSE:TGLS) had its target price lowered by DA Davidson from $80.00 to $70.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

TGLS has been the topic of a number of other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Tecnoglass in a research report on Monday, December 22nd. Zacks Research upgraded shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Tecnoglass Price Performance

Shares of TGLS opened at $45.66 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.40 and a current ratio of 1.86. The firm has a market cap of $2.04 billion, a PE ratio of 13.35, a PEG ratio of 0.54 and a beta of 1.72. The firm’s 50 day moving average price is $50.80 and its 200 day moving average price is $56.94. Tecnoglass has a twelve month low of $43.09 and a twelve month high of $90.34.

Tecnoglass (NYSE:TGLS) last posted its earnings results on Thursday, February 26th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.21). The business had revenue of $245.30 million during the quarter. Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share.

Tecnoglass Dividend Announcement

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

Hedge Funds Weigh In On Tecnoglass

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. grew its holdings in Tecnoglass by 5.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,485 shares of the company’s stock worth $192,000 after acquiring an additional 135 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of 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 purchasing an additional 238 shares during the period. Blue Chip Partners LLC lifted its holdings in shares of Tecnoglass by 6.3% during the fourth quarter. Blue Chip Partners LLC now owns 4,250 shares of the company’s stock worth $214,000 after purchasing an additional 250 shares during the period. First Horizon Corp grew its stake in shares of Tecnoglass by 63.3% in the fourth quarter. First Horizon Corp now owns 673 shares of the company’s stock worth $34,000 after purchasing an additional 261 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Tecnoglass by 2.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 12,459 shares of the company’s stock valued at $627,000 after purchasing an additional 295 shares during the period. Institutional investors own 37.35% of the company’s stock.

About Tecnoglass

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.