Tecnoglass (NASDAQ:TGLS) Reaches New 1-Year High Following Analyst Upgrade

Tecnoglass Inc. (NASDAQ:TGLS)’s share price hit a new 52-week high on Monday after Robert W. Baird raised their price target on the stock from $76.00 to $85.00. Robert W. Baird currently has an outperform rating on the stock. Tecnoglass traded as high as $80.51 and last traded at $79.71, with a volume of 29998 shares. The stock had previously closed at $78.10.

Several other brokerages have also recently weighed in on TGLS. Stifel Nicolaus upped 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. B. Riley reaffirmed a “neutral” rating and set a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. DA Davidson upped their price objective on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $67.33.

Institutional Trading of Tecnoglass

A number of hedge funds and other institutional investors have recently modified their holdings of TGLS. Wellington Management Group LLP increased its holdings 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 purchasing an additional 22,169 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Tecnoglass by 295.5% during the 1st 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. Capstone Investment Advisors LLC grew its holdings in Tecnoglass by 57.5% during the 1st quarter. Capstone Investment Advisors LLC now owns 47,368 shares of the company’s stock worth $2,465,000 after acquiring an additional 17,292 shares during the period. GSA Capital Partners LLP acquired a new stake in Tecnoglass during the 1st quarter worth $560,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Tecnoglass during the 1st quarter worth $893,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Stock Down 9.1 %

The business’s fifty day simple moving average is $66.16 and its 200 day simple moving average is $57.16. 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 cap of $3.23 billion, a price-to-earnings ratio of 19.82 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last announced 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. The company had revenue of $219.65 million for the quarter, compared to analysts’ expectations of $219.29 million. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. Equities analysts forecast that Tecnoglass Inc. will post 3.44 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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%.

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.