Tecnoglass (NASDAQ:TGLS) Hits New 12-Month High After Analyst Upgrade

Tecnoglass Inc. (NASDAQ:TGLS)’s stock price hit a new 52-week high on Wednesday after Robert W. Baird raised their price target on the stock from $68.00 to $76.00. Robert W. Baird currently has an outperform rating on the stock. Tecnoglass traded as high as $68.95 and last traded at $66.99, with a volume of 328165 shares. The stock had previously closed at $67.57.

Other analysts have also recently issued reports about the stock. DA Davidson upped 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. Stifel Nicolaus raised their price target on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Sidoti upgraded 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. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.17.

Institutional Investors Weigh In On Tecnoglass

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Tecnoglass by 5.6% during 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 in the last quarter. Clearbridge Investments LLC raised its stake in Tecnoglass by 27.6% during the 4th quarter. Clearbridge Investments LLC now owns 380,963 shares of the company’s stock valued at $17,414,000 after buying an additional 82,508 shares during the last quarter. Capstone Investment Advisors LLC lifted its holdings in shares of Tecnoglass by 57.5% during the 1st quarter. Capstone Investment Advisors LLC now owns 47,368 shares of the company’s stock valued at $2,465,000 after buying an additional 17,292 shares during the period. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Tecnoglass in the 1st quarter worth $2,074,000. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Tecnoglass by 295.5% in the first quarter. Commonwealth Equity Services LLC now owns 20,630 shares of the company’s stock worth $1,073,000 after acquiring an additional 15,414 shares during the period. 37.35% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Stock Performance

The company has a market cap of $3.24 billion, a PE ratio of 19.86 and a beta of 1.86. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80. The business has a 50-day moving average of $57.76 and a 200 day moving average of $53.46.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm earned $1.12 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. Equities research analysts anticipate that Tecnoglass Inc. will post 3.42 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The business also recently announced 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. The ex-dividend date is Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.64%. Tecnoglass’s dividend payout ratio is 12.68%.

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.