Tecnoglass (NASDAQ:TGLS) Given New $90.00 Price Target at DA Davidson

Tecnoglass (NASDAQ:TGLS) had its price target upped by DA Davidson from $65.00 to $90.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock. DA Davidson also issued estimates for Tecnoglass’ Q4 2024 earnings at $0.98 EPS, FY2024 earnings at $3.42 EPS and FY2025 earnings at $4.06 EPS.

Several other equities research analysts have also commented on the company. Sidoti lowered Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a research note on Tuesday, October 22nd. Raymond James cut shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. B. Riley reissued a “neutral” rating and issued a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Stifel Nicolaus upped their target price on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Robert W. Baird raised their target price on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Tecnoglass presently has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Price Performance

Tecnoglass stock opened at $73.94 on Tuesday. Tecnoglass has a 1 year low of $33.19 and a 1 year high of $80.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The firm has a 50 day moving average price of $69.57 and a 200 day moving average price of $58.76. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 23.11 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.11. The company had revenue of $237.90 million during the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 EPS. Sell-side analysts predict that Tecnoglass will post 3.55 earnings per share for the current year.

Tecnoglass Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.60%. Tecnoglass’s dividend payout ratio (DPR) is presently 13.75%.

Insider Activity

In other news, Director Julio A. Torres sold 30,520 shares of Tecnoglass stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total value of $104,573,402.40. Following the completion of the sale, the insider now owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Tecnoglass

Several large investors have recently added to or reduced their stakes in the company. William Blair Investment Management LLC raised its holdings in shares of Tecnoglass by 8.7% during the second quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock worth $88,060,000 after purchasing an additional 140,112 shares during the period. 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 valued at $44,385,000 after buying an additional 96,602 shares during the last quarter. Clearbridge Investments LLC raised its stake in Tecnoglass by 2.3% during the first quarter. Clearbridge Investments LLC now owns 389,876 shares of the company’s stock worth $20,285,000 after acquiring an additional 8,913 shares during the period. Ensign Peak Advisors Inc lifted its holdings in Tecnoglass by 219.7% in the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after acquiring an additional 149,933 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Tecnoglass by 8.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 183,400 shares of the company’s stock valued at $12,592,000 after acquiring an additional 13,803 shares during the period. 37.35% of the stock is currently owned by institutional investors.

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.