Tecnoglass (NASDAQ:TGLS) Hits New 52-Week High Following Analyst Upgrade

Tecnoglass Inc. (NASDAQ:TGLS) shares 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 traded. The stock had previously closed at $67.57.

Other equities research analysts have also issued reports about the company. Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Wednesday, June 26th. Stifel Nicolaus boosted their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, DA Davidson raised their target price on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tecnoglass presently has a consensus rating of “Moderate Buy” and an average price target of $62.17.

Institutional Trading of Tecnoglass

Several institutional investors and hedge funds have recently made changes to their positions in the business. Crossmark Global Holdings Inc. lifted its holdings in Tecnoglass by 3.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after buying an additional 220 shares in the last quarter. X Square Capital LLC increased its holdings 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 purchasing an additional 237 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of Tecnoglass by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock worth $687,000 after buying an additional 292 shares during the period. Amalgamated Bank bought a new position in shares of Tecnoglass during the 2nd quarter worth $39,000. Finally, Linden Thomas Advisory Services LLC raised its holdings in shares of Tecnoglass by 10.0% in the second quarter. Linden Thomas Advisory Services LLC now owns 10,150 shares of the company’s stock valued at $509,000 after acquiring an additional 920 shares in the last quarter. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Trading Up 2.9 %

The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average is $57.76 and its two-hundred day moving average is $53.46. The company has a market capitalization of $3.24 billion, a PE ratio of 19.86 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $219.65 million for the quarter, compared to analyst estimates of $219.29 million. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. Tecnoglass’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. As a group, sell-side analysts predict that Tecnoglass Inc. will post 3.42 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The business 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 $0.11 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.44 annualized dividend and a yield of 0.64%. Tecnoglass’s dividend payout ratio (DPR) is presently 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.