Tecnoglass (NASDAQ:TGLS) Hits New 52-Week High at $70.21

Tecnoglass Inc. (NASDAQ:TGLS) shares reached a new 52-week high on Wednesday . The stock traded as high as $70.21 and last traded at $70.07, with a volume of 132219 shares. The stock had previously closed at $68.74.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Robert W. Baird boosted their target price on Tecnoglass from $68.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 17th. Sidoti raised shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Wednesday, June 26th. B. Riley cut Tecnoglass from a “buy” rating to a “neutral” rating and increased their price target for the stock from $60.00 to $69.00 in a report on Monday, September 23rd. Stifel Nicolaus increased their target price on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, DA Davidson increased their price target on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.67.

Tecnoglass Trading Up 1.1 %

The stock has a market cap of $3.27 billion, a PE ratio of 20.07 and a beta of 1.86. The firm has a 50-day simple moving average of $60.08 and a 200-day simple moving average of $54.88. 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 released its quarterly earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. The firm 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Equities analysts forecast that Tecnoglass Inc. will post 3.42 earnings per share for the current year.

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 dividend on an annualized basis and a yield of 0.63%. Tecnoglass’s dividend payout ratio is presently 12.68%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TGLS. Amalgamated Bank bought a new position in shares of Tecnoglass during the second quarter valued at about $39,000. X Square Capital LLC boosted its holdings in shares of Tecnoglass by 5.7% during the second 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. PFG Investments LLC purchased a new stake in Tecnoglass in the second quarter worth about $220,000. EntryPoint Capital LLC purchased a new stake in Tecnoglass in the first quarter worth about $227,000. Finally, Tidal Investments LLC purchased a new stake in Tecnoglass in the first quarter worth about $245,000. 37.35% of the stock is owned by institutional investors.

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.