Tecnoglass (NASDAQ:TGLS) Reaches New 52-Week High at $27.12

Tecnoglass Inc. (NASDAQ:TGLS)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $27.12 and last traded at $26.80, with a volume of 813 shares changing hands. The stock had previously closed at $26.17.

Several research analysts recently issued reports on the stock. Robert W. Baird upped their price target on shares of Tecnoglass from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 9th. Colliers Securities restated a “buy” rating on shares of Tecnoglass in a research note on Thursday, July 1st. Raymond James raised their price target on Tecnoglass from $15.00 to $26.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 9th. Sidoti assumed coverage on Tecnoglass in a research note on Tuesday, September 21st. They set a “neutral” rating and a $25.00 price target on the stock. Finally, Zacks Investment Research downgraded Tecnoglass from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $21.71.

The company has a 50-day moving average of $22.58 and a two-hundred day moving average of $19.04. The company has a market capitalization of $1.26 billion, a PE ratio of 22.76, a P/E/G ratio of 0.80 and a beta of 1.71. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.56 and a quick ratio of 1.96.

Tecnoglass (NASDAQ:TGLS) last issued its earnings results on Friday, August 6th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.11. Tecnoglass had a return on equity of 29.50% and a net margin of 12.36%. The firm had revenue of $121.71 million for the quarter, compared to analysts’ expectations of $106.77 million. As a group, research analysts anticipate that Tecnoglass Inc. will post 1.38 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Thursday, September 30th will be given a dividend of $0.027 per share. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Wednesday, September 29th. Tecnoglass’s payout ratio is presently 13.92%.

In other news, Director Martha L. Byorum sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The shares were sold at an average price of $24.46, for a total transaction of $195,680.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in Tecnoglass by 452.5% during the second quarter. BlackRock Inc. now owns 395,738 shares of the company’s stock worth $8,469,000 after purchasing an additional 324,108 shares during the last quarter. Friess Associates LLC bought a new position in shares of Tecnoglass in the 1st quarter worth about $2,104,000. Monarch Partners Asset Management LLC increased its stake in Tecnoglass by 67.1% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 330,458 shares of the company’s stock valued at $7,072,000 after buying an additional 132,739 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Tecnoglass in the second quarter worth about $2,840,000. Finally, Marshall Wace LLP acquired a new stake in shares of Tecnoglass during the second quarter worth approximately $2,710,000. Institutional investors own 18.79% of the company’s stock.

About Tecnoglass (NASDAQ:TGLS)

Tecnoglass, Inc is a holding company, which engages in the design, manufacturing, distribution, marketing, and installation of specification architectural glass and windows products sold to the construction industry. It operates through the following geographical segments: Colombia, United States, Panama, and Other.

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