Tecnoglass (NASDAQ:TGLS) Hits New 52-Week High at $70.21

Tecnoglass Inc. (NASDAQ:TGLS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $70.21 and last traded at $70.07, with a volume of 132219 shares trading hands. The stock had previously closed at $68.74.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TGLS. Stifel Nicolaus lifted their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Robert W. Baird lifted their price objective on shares of Tecnoglass from $68.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 17th. Sidoti raised shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Wednesday, June 26th. B. Riley lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $60.00 to $69.00 in a research note on Monday, September 23rd. Finally, DA Davidson lifted their price target on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Tecnoglass Stock Up 1.1 %

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 company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 20.07 and a beta of 1.86. The stock’s fifty day moving average price is $60.08 and its 200-day moving average price is $54.88.

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

Tecnoglass Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.11 per share. The ex-dividend date is Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.63%. Tecnoglass’s dividend payout ratio (DPR) is 12.68%.

Hedge Funds Weigh In On Tecnoglass

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGLS. William Blair Investment Management LLC boosted its position in shares of Tecnoglass by 8.7% in the second quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after acquiring an additional 140,112 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Tecnoglass by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock valued at $44,385,000 after acquiring an additional 96,602 shares during the period. Owls Nest Partners IA LLC boosted its position in shares of Tecnoglass by 200.1% in the fourth quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock valued at $26,410,000 after acquiring an additional 385,265 shares during the period. Wellington Management Group LLP boosted its position in shares of Tecnoglass by 5.6% in the fourth quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock valued at $19,248,000 after acquiring an additional 22,169 shares during the period. Finally, Clearbridge Investments LLC boosted its position in shares of Tecnoglass by 2.3% in the first quarter. Clearbridge Investments LLC now owns 389,876 shares of the company’s stock valued at $20,285,000 after acquiring an additional 8,913 shares during the period. 37.35% of the stock is owned by 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.