B. Riley Financial Issues Pessimistic Forecast for Tecnoglass (NYSE:TGLS) Stock Price

Tecnoglass (NYSE:TGLS) had its price target decreased by research analysts at B. Riley Financial from $70.00 to $65.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s price objective points to a potential upside of 52.99% from the stock’s previous close.

TGLS has been the subject of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Tecnoglass in a research report on Monday, December 22nd. Zacks Research cut Tecnoglass from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, DA Davidson dropped their price objective on Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a report on Monday. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $67.50.

Tecnoglass Trading Down 3.7%

Tecnoglass stock traded down $1.62 during trading hours on Friday, reaching $42.49. 172,119 shares of the company’s stock traded hands, compared to its average volume of 354,619. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 0.53 and a beta of 1.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.40 and a current ratio of 1.86. Tecnoglass has a fifty-two week low of $42.47 and a fifty-two week high of $90.34. The firm’s 50 day moving average is $50.65 and its 200-day moving average is $56.85.

Tecnoglass (NYSE:TGLS) last issued its quarterly 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). Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.The business had revenue of $245.30 million for the quarter. During the same period last year, the company posted $1.05 EPS. Tecnoglass’s revenue for the quarter was up 3.0% compared to the same quarter last year.

Institutional Investors Weigh In On Tecnoglass

Several large investors have recently modified their holdings of the business. First Horizon Corp acquired a new stake in shares of Tecnoglass during the third quarter worth about $28,000. Kemnay Advisory Services Inc. bought a new stake in Tecnoglass during the 4th quarter worth approximately $28,000. Arax Advisory Partners raised its holdings in Tecnoglass by 128.4% during the 4th quarter. Arax Advisory Partners now owns 596 shares of the company’s stock worth $30,000 after buying an additional 335 shares during the period. Federated Hermes Inc. raised its holdings in Tecnoglass by 290.2% during the 3rd quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock worth $40,000 after buying an additional 444 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Tecnoglass by 223.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock valued at $43,000 after buying an additional 440 shares in the last quarter. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Company Profile

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.