Tecnoglass (NASDAQ:TGLS) Sets New 52-Week High – Here’s Why

Tecnoglass Inc. (NASDAQ:TGLS) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $71.39 and last traded at $70.71, with a volume of 36606 shares changing hands. The stock had previously closed at $69.12.

Wall Street Analysts Forecast Growth

TGLS has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their price target on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a report on Friday, August 9th. B. Riley cut Tecnoglass from a “buy” rating to a “neutral” rating and lifted their target price for the company from $60.00 to $69.00 in a research note on Monday, September 23rd. Robert W. Baird increased their price target on shares of Tecnoglass from $68.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. 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 report on Wednesday, June 26th. Finally, DA Davidson upped their price objective on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Tecnoglass Stock Up 0.9 %

The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 20.93 and a beta of 1.86. The business has a fifty day moving average of $62.13 and a 200 day moving average of $55.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.86 EPS for the quarter, topping 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 quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 EPS. On average, equities analysts predict that Tecnoglass Inc. will post 3.42 earnings per share for the current year.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.11 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.61%. Tecnoglass’s dividend payout ratio is currently 12.68%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TGLS. William Blair Investment Management LLC boosted its position in Tecnoglass by 232.8% during the first quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock worth $84,017,000 after purchasing an additional 1,129,603 shares during the period. Owls Nest Partners IA LLC boosted its holdings in shares of Tecnoglass by 200.1% during the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock worth $26,410,000 after buying an additional 385,265 shares during the period. Ensign Peak Advisors Inc grew its stake in Tecnoglass by 219.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock valued at $10,949,000 after buying an additional 149,933 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Tecnoglass by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after acquiring an additional 96,602 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Tecnoglass during the 2nd quarter worth $3,929,000. 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.