Robert W. Baird Boosts Tecnoglass (NASDAQ:TGLS) Price Target to $76.00

Tecnoglass (NASDAQ:TGLS) had its price objective boosted by Robert W. Baird from $68.00 to $76.00 in a report issued on Tuesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other brokerages have also issued reports on TGLS. Stifel Nicolaus boosted their price target 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 upgraded Tecnoglass from a neutral rating to a buy rating and set a $68.00 price target for the company in a report on Wednesday, June 26th. Finally, DA Davidson raised their price target on Tecnoglass from $60.00 to $65.00 and gave the stock a buy rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $62.17.

Tecnoglass Trading Up 2.9 %

NASDAQ TGLS opened at $68.90 on Tuesday. 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 has a 12 month low of $28.21 and a 12 month high of $69.79. The company has a market capitalization of $3.24 billion, a PE ratio of 19.86 and a beta of 1.86. The stock has a 50-day simple moving average of $57.76 and a 200 day simple moving average of $53.46.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The business 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%. Tecnoglass’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the company posted $1.12 EPS. Research analysts forecast that Tecnoglass will post 3.42 EPS for the current year.

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.64%. Tecnoglass’s payout ratio is presently 12.68%.

Hedge Funds Weigh In On Tecnoglass

A number of large investors have recently bought and sold shares of the company. Amalgamated Bank bought a new stake in shares of Tecnoglass in the second quarter worth $39,000. X Square Capital LLC lifted its position in Tecnoglass by 5.7% during the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after buying an additional 237 shares in the last quarter. PFG Investments LLC acquired a new position in shares of Tecnoglass during the 2nd quarter worth about $220,000. EntryPoint Capital LLC bought a new position in shares of Tecnoglass in the 1st quarter valued at about $227,000. Finally, Tidal Investments LLC acquired a new stake in shares of Tecnoglass in the first quarter valued at about $245,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

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.