Tecnoglass (NASDAQ:TGLS) Given “Buy” Rating at B. Riley

Tecnoglass (NASDAQ:TGLS)‘s stock had its “buy” rating reiterated by equities research analysts at B. Riley in a research note issued on Friday, Benzinga reports. They presently have a $60.00 price objective on the stock, down from their previous price objective of $65.00. B. Riley’s price target indicates a potential upside of 14.16% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and lifted their price target for the company from $56.00 to $59.00 in a research note on Wednesday, May 1st. Stifel Nicolaus cut shares of Tecnoglass from a “buy” rating to a “hold” rating and reduced their price objective for the company from $48.00 to $45.00 in a research note on Wednesday, February 14th. DA Davidson restated a “buy” rating and set a $50.00 target price on shares of Tecnoglass in a research report on Monday, March 4th. Finally, Robert W. Baird reduced their price target on shares of Tecnoglass from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.83.

Tecnoglass Stock Performance

Tecnoglass stock traded up $0.89 during mid-day trading on Friday, reaching $52.56. 159,960 shares of the company were exchanged, compared to its average volume of 351,315. The firm’s 50-day simple moving average is $52.03 and its two-hundred day simple moving average is $44.73. Tecnoglass has a twelve month low of $28.21 and a twelve month high of $59.76. The firm has a market cap of $2.47 billion, a PE ratio of 13.83 and a beta of 1.79. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.60 and a current ratio of 2.27.

Tecnoglass (NASDAQ:TGLS) last released its earnings results on Thursday, May 9th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $192.09 million during the quarter, compared to analyst estimates of $191.04 million. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. Equities analysts predict that Tecnoglass will post 3.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chesapeake Capital Corp IL purchased a new position in Tecnoglass during the first quarter worth about $509,000. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Tecnoglass during the 1st quarter worth about $2,074,000. William Blair Investment Management LLC grew its holdings in Tecnoglass by 232.8% in the first quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock valued at $84,017,000 after purchasing an additional 1,129,603 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Tecnoglass in the first quarter valued at $893,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Tecnoglass in the 1st quarter worth about $560,000. 37.35% of the stock is currently 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.