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

Tecnoglass (NASDAQ:TGLS) had its price target raised by Robert W. Baird from $68.00 to $76.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also weighed in on TGLS. Stifel Nicolaus raised 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. Sidoti upgraded 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. Finally, DA Davidson lifted their price target 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. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $62.17.

Tecnoglass Stock Performance

TGLS stock opened at $68.59 on Tuesday. The company has a market capitalization of $3.22 billion, a P/E ratio of 19.77 and a beta of 1.86. The company has a 50-day simple moving average of $58.05 and a 200 day simple moving average of $53.64. Tecnoglass has a fifty-two week low of $28.21 and a fifty-two week high of $69.79. The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.86 EPS for the quarter, beating 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 firm earned $1.12 earnings per share. The business’s quarterly revenue was down 2.5% on a year-over-year basis. Sell-side analysts predict that Tecnoglass will post 3.42 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The business 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 dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s dividend payout ratio is currently 12.68%.

Institutional Investors Weigh In On Tecnoglass

A number of large investors have recently added to or reduced their stakes in TGLS. Wellington Management Group LLP grew its holdings in shares of Tecnoglass by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock worth $19,248,000 after purchasing an additional 22,169 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Tecnoglass by 27.6% during the fourth quarter. Clearbridge Investments LLC now owns 380,963 shares of the company’s stock valued at $17,414,000 after buying an additional 82,508 shares during the last quarter. Capstone Investment Advisors LLC boosted its position in shares of Tecnoglass by 57.5% during the first quarter. Capstone Investment Advisors LLC now owns 47,368 shares of the company’s stock valued at $2,465,000 after buying an additional 17,292 shares during the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in Tecnoglass during the first quarter worth $2,074,000. Finally, Commonwealth Equity Services LLC lifted its holdings in Tecnoglass by 295.5% during the first 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. Institutional investors 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.