Tecnoglass (NASDAQ:TGLS) Reaches New 12-Month High – Should You Buy?

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 brokerages have recently commented on TGLS. DA Davidson lifted their target price on Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. 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 report on Wednesday, June 26th. B. Riley downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $60.00 to $69.00 in a research report on Monday, September 23rd. Robert W. Baird lifted their target price on Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Finally, Stifel Nicolaus increased their price target on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Three 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.67.

Tecnoglass Stock Up 0.1 %

The company has a market cap of $3.27 billion, a price-to-earnings ratio of 20.05 and a beta of 1.86. The stock has a 50-day simple moving average of $60.77 and a 200-day simple moving average of $55.08. 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 issued its quarterly 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 company had revenue of $219.65 million during the quarter, compared to analyst estimates of $219.29 million. During the same period in the prior year, the business posted $1.12 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, analysts predict that Tecnoglass Inc. will post 3.42 EPS for the current year.

Tecnoglass Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s dividend payout ratio is presently 12.68%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Owls Nest Partners IA LLC increased 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 worth $26,410,000 after acquiring an additional 385,265 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Tecnoglass in the fourth quarter valued at $274,000. 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 worth $19,248,000 after buying an additional 22,169 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Tecnoglass during the fourth quarter valued at $791,000. Finally, Renaissance Group LLC lifted its stake in Tecnoglass by 2.6% in the 1st quarter. Renaissance Group LLC now owns 197,133 shares of the company’s stock worth $10,257,000 after acquiring an additional 5,071 shares in the last quarter. 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.