Tecnoglass (NASDAQ:TGLS) PT Raised to $85.00

Tecnoglass (NASDAQ:TGLS) had its price target raised by Robert W. Baird from $76.00 to $85.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

TGLS has been the subject of a number of other research reports. B. Riley reaffirmed a “neutral” rating and issued a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Stifel Nicolaus lifted their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a report on Friday, August 9th. Sidoti raised shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Wednesday, June 26th. Finally, DA Davidson lifted their price objective on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tecnoglass currently has an average rating of “Hold” and an average price target of $67.33.

Tecnoglass Stock Up 0.8 %

Shares of NASDAQ TGLS opened at $69.72 on Monday. The firm’s 50-day moving average price is $66.58 and its 200-day moving average price is $57.33. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 20.09 and a beta of 1.86. Tecnoglass has a 12-month low of $28.21 and a 12-month high of $80.51.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $219.65 million for the quarter, compared to the consensus estimate of $219.29 million. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $1.12 earnings per share. On average, equities research analysts anticipate that Tecnoglass will post 3.44 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The company also recently announced 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. This represents a $0.44 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is presently 12.68%.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Semanteon Capital Management LP purchased a new stake in shares of Tecnoglass in the 3rd quarter valued at approximately $1,237,000. X Square Capital LLC increased its stake in Tecnoglass by 27.1% during the 3rd quarter. X Square Capital LLC now owns 5,545 shares of the company’s stock worth $381,000 after buying an additional 1,182 shares during the period. Riverwater Partners LLC increased its stake in Tecnoglass by 20.7% during the 3rd quarter. Riverwater Partners LLC now owns 62,664 shares of the company’s stock worth $4,355,000 after buying an additional 10,731 shares during the period. Signaturefd LLC increased its stake in Tecnoglass by 4,735.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after buying an additional 663 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Tecnoglass during the 3rd quarter worth approximately $488,000. 37.35% of the stock is 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.