Tecnoglass (NASDAQ:TGLS) Hits New 12-Month High – Should You Buy?

Tecnoglass Inc. (NASDAQ:TGLS) hit a new 52-week high on Tuesday . The company traded as high as $86.10 and last traded at $86.09, with a volume of 69536 shares trading hands. The stock had previously closed at $84.05.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TGLS. Robert W. Baird upped their target price on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Raymond James downgraded shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Tuesday, October 22nd. StockNews.com assumed coverage on Tecnoglass in a research note on Saturday, December 14th. They issued a “hold” rating for the company. Finally, B. Riley reiterated a “neutral” rating and issued a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Tecnoglass has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Stock Up 2.5 %

The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 26.90 and a beta of 1.90. The business has a fifty day moving average price of $79.38 and a two-hundred day moving average price of $68.64.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. The firm had revenue of $237.90 million during the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. On average, equities analysts predict that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

Tecnoglass Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.15 per share. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.70%. Tecnoglass’s dividend payout ratio is currently 18.75%.

Insider Buying and Selling at Tecnoglass

In related news, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the completion of the sale, the insider now directly owns 23,195,988 shares in the company, valued at $1,693,771,043.76. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Tecnoglass

A number of large investors have recently bought and sold shares of TGLS. Wellington Management Group LLP grew its position in Tecnoglass by 29.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock worth $134,994,000 after acquiring an additional 447,647 shares during 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 valued at $44,385,000 after buying an additional 96,602 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Tecnoglass by 4.8% in the third quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock valued at $34,355,000 after buying an additional 22,700 shares during the last quarter. State Street Corp lifted its position in Tecnoglass by 29.1% during the 3rd quarter. State Street Corp now owns 416,964 shares of the company’s stock worth $28,674,000 after buying an additional 93,968 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in Tecnoglass by 219.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after acquiring an additional 149,933 shares during the last quarter. 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.