Tecnoglass (NASDAQ:TGLS) Reaches New 1-Year High at $60.77

Tecnoglass Inc. (NASDAQ:TGLS) reached a new 52-week high during trading on Thursday . The company traded as high as $60.77 and last traded at $60.71, with a volume of 387277 shares. The stock had previously closed at $57.76.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TGLS. Robert W. Baird lifted their price objective on Tecnoglass from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Stifel Nicolaus lifted their price objective on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Sidoti raised 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. B. Riley reaffirmed a “buy” rating and issued a $60.00 price objective (down previously from $65.00) on shares of Tecnoglass in a research note on Friday, May 10th. Finally, DA Davidson lifted their price objective on Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.83.

Tecnoglass Trading Up 3.8 %

The company has a 50-day moving average price of $50.20 and a two-hundred day moving average price of $50.61. The stock has a market cap of $2.82 billion, a P/E ratio of 17.43 and a beta of 1.85. The company has a current ratio of 2.33, a quick ratio of 1.72 and a debt-to-equity ratio of 0.27.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.86 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 the consensus estimate of $219.29 million. Tecnoglass had a return on equity of 31.85% and a net margin of 19.97%. Tecnoglass’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 EPS. On average, research analysts expect that Tecnoglass Inc. will post 3.37 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Friday, June 28th. Tecnoglass’s dividend payout ratio (DPR) is presently 12.68%.

Hedge Funds Weigh In On Tecnoglass

Hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in shares of Tecnoglass by 5.6% in the 4th quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock worth $19,248,000 after buying an additional 22,169 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Tecnoglass by 58.8% in the fourth quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock valued at $37,288,000 after purchasing an additional 302,163 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Tecnoglass by 27.6% in the fourth quarter. Clearbridge Investments LLC now owns 380,963 shares of the company’s stock valued at $17,414,000 after purchasing an additional 82,508 shares during the period. Capstone Investment Advisors LLC increased its holdings in shares of Tecnoglass by 57.5% in the first quarter. Capstone Investment Advisors LLC now owns 47,368 shares of the company’s stock valued at $2,465,000 after purchasing an additional 17,292 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Tecnoglass in the first quarter valued at about $2,074,000. 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.