Tecnoglass (NASDAQ:TGLS) Reaches New 1-Year High – Time to Buy?

Tecnoglass Inc. (NASDAQ:TGLS)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $71.39 and last traded at $70.71, with a volume of 36606 shares changing hands. The stock had previously closed at $69.12.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TGLS shares. Robert W. Baird boosted their price target on Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. B. Riley cut Tecnoglass from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $60.00 to $69.00 in a research report on Monday, September 23rd. Stifel Nicolaus boosted their price objective on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Sidoti upgraded Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Wednesday, June 26th. Finally, DA Davidson boosted their price objective on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a hold rating, three have assigned 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 $63.67.

Tecnoglass Price Performance

The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.37 billion, a PE ratio of 19.92 and a beta of 1.86. The company has a 50-day moving average of $61.39 and a 200 day moving average of $55.45.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The firm had revenue of $219.65 million during the quarter, compared to analysts’ expectations of $219.29 million. During the same period in the previous year, the business earned $1.12 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Sell-side analysts predict that Tecnoglass Inc. will post 3.42 EPS for the current year.

Tecnoglass Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s payout ratio is 12.68%.

Institutional Trading of Tecnoglass

Several large investors have recently made changes to their positions in TGLS. Owls Nest Partners IA LLC grew its holdings in Tecnoglass by 200.1% in the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock valued at $26,410,000 after buying an additional 385,265 shares in the last quarter. Virtu Financial LLC purchased a new stake in Tecnoglass in the 4th quarter valued at $274,000. Wellington Management Group LLP grew its holdings in Tecnoglass by 5.6% in the 4th quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock valued at $19,248,000 after buying an additional 22,169 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Tecnoglass in the 4th quarter valued at $791,000. Finally, Commonwealth Equity Services LLC grew its holdings in Tecnoglass by 295.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 20,630 shares of the company’s stock valued at $1,073,000 after buying an additional 15,414 shares in the last quarter. 37.35% of the stock is currently owned by hedge funds and other 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.