Tecnoglass (NASDAQ:TGLS) Sets New 52-Week High After Analyst Upgrade

Tecnoglass Inc. (NASDAQ:TGLS)’s share price reached a new 52-week high during trading on Monday after Robert W. Baird raised their price target on the stock from $76.00 to $85.00. Robert W. Baird currently has an outperform rating on the stock. Tecnoglass traded as high as $80.51 and last traded at $79.71, with a volume of 29998 shares traded. The stock had previously closed at $78.10.

Several other equities analysts also recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. B. Riley reaffirmed a “neutral” rating and issued a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Sidoti upgraded shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Wednesday, June 26th. Finally, DA Davidson increased their price target on Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.67.

Institutional Trading of Tecnoglass

Several large investors have recently added to or reduced their stakes in the stock. Amalgamated Bank purchased a new position in shares of Tecnoglass during the 2nd quarter worth $39,000. X Square Capital LLC increased its stake in shares of Tecnoglass by 5.7% during the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after buying an additional 237 shares during the period. PFG Investments LLC purchased a new position in Tecnoglass in the second quarter worth approximately $220,000. EntryPoint Capital LLC acquired a new position in shares of Tecnoglass during the first quarter worth $227,000. Finally, Tidal Investments LLC purchased a new stake in Tecnoglass during the 1st quarter worth about $245,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Trading Down 3.3 %

The business has a fifty day moving average price of $65.93 and a 200 day moving average price of $57.05. The firm has a market cap of $3.55 billion, a PE ratio of 21.77 and a beta of 1.86. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24.

Tecnoglass (NASDAQ:TGLS) last released 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. The business had revenue of $219.65 million during the quarter, compared to analysts’ expectations of $219.29 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 earnings per share. Analysts forecast that Tecnoglass Inc. will post 3.44 EPS for the current year.

Tecnoglass Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.58%. Tecnoglass’s dividend payout ratio is currently 12.68%.

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.