Tecnoglass (NASDAQ:TGLS) Sets New 12-Month High at $63.21

Shares of Tecnoglass Inc. (NASDAQ:TGLS) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $63.21 and last traded at $63.08, with a volume of 508509 shares changing hands. The stock had previously closed at $59.87.

Analysts Set New Price Targets

Several research analysts have weighed in on TGLS shares. DA Davidson boosted their price objective on Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Sidoti upgraded shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Wednesday, June 26th. Robert W. Baird boosted their target price on shares of Tecnoglass from $60.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus raised their price target 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. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tecnoglass presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.83.

Tecnoglass Stock Performance

The company has a 50-day moving average price of $56.53 and a two-hundred day moving average price of $52.86. 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 has a market capitalization of $3.14 billion, a P/E ratio of 19.26 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The company had revenue of $219.65 million during the quarter, compared to analyst estimates of $219.29 million. During the same quarter in the previous year, the firm earned $1.12 earnings per share. Tecnoglass’s revenue was down 2.5% on a year-over-year basis. Equities analysts expect that Tecnoglass Inc. will post 3.42 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is presently 12.68%.

Hedge Funds Weigh In On Tecnoglass

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank purchased a new stake in shares of Tecnoglass during the second quarter valued at approximately $39,000. X Square Capital LLC grew its holdings in Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after acquiring an additional 237 shares during the last quarter. PFG Investments LLC purchased a new position in shares of Tecnoglass in the second quarter valued at about $220,000. EntryPoint Capital LLC bought a new position in shares of Tecnoglass during the first quarter valued at about $227,000. Finally, M&T Bank Corp purchased a new stake in shares of Tecnoglass during the fourth quarter worth about $244,000. 37.35% of the stock is currently 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.