Tecnoglass (NASDAQ:TGLS) Given New $59.00 Price Target at Stifel Nicolaus

Tecnoglass (NASDAQ:TGLS) had its price target lifted by Stifel Nicolaus from $50.00 to $59.00 in a research note published on Friday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other equities research analysts also recently issued reports on TGLS. Robert W. Baird upped their price target on Tecnoglass from $60.00 to $68.00 and gave the stock an outperform rating in a report on Friday. B. Riley restated a buy rating and set a $60.00 price target (down from $65.00) on shares of Tecnoglass in a report on Friday, May 10th. Finally, Sidoti raised shares of Tecnoglass from a neutral rating to a buy rating and set a $68.00 price objective for the company in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $58.33.

Tecnoglass Stock Up 3.9 %

Shares of NASDAQ TGLS traded up $2.08 during midday trading on Friday, hitting $56.09. 654,333 shares of the stock traded hands, compared to its average volume of 398,549. Tecnoglass has a one year low of $28.21 and a one year high of $59.76. The business has a 50 day moving average price of $49.81 and a two-hundred day moving average price of $50.37. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.72 and a current ratio of 2.33. The company has a market cap of $2.64 billion, a PE ratio of 16.16 and a beta of 1.85.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $219.65 million for the quarter, compared to the consensus estimate of $219.29 million. Tecnoglass had a net margin of 19.97% and a return on equity of 31.85%. The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 earnings per share. On average, equities analysts predict that Tecnoglass will post 3.37 EPS for the current year.

Tecnoglass Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Friday, June 28th. Tecnoglass’s payout ratio is 12.68%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC increased its stake in shares of Tecnoglass by 8.7% in the second quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock worth $88,060,000 after purchasing an additional 140,112 shares in the last quarter. Cooke & Bieler LP increased its stake in shares of Tecnoglass by 35.8% in the fourth quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock worth $59,431,000 after purchasing an additional 342,451 shares in the last quarter. Polaris Capital Management LLC increased its stake in shares of Tecnoglass by 0.6% in the first quarter. Polaris Capital Management LLC now owns 902,064 shares of the company’s stock worth $46,934,000 after purchasing an additional 5,300 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tecnoglass by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after purchasing an additional 96,602 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake 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 worth $37,288,000 after purchasing an additional 302,163 shares in the last quarter. 37.35% of the stock is owned by institutional investors.

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.