B. Riley Increases Tecnoglass (NASDAQ:TGLS) Price Target to $65.00

Tecnoglass (NASDAQ:TGLS - Free Report) had its price objective raised by B. Riley from $51.00 to $65.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also commented on TGLS. Stifel Nicolaus lowered Tecnoglass from a buy rating to a hold rating and decreased their price target for the stock from $48.00 to $45.00 in a research report on Wednesday, February 14th. DA Davidson reiterated a buy rating and issued a $50.00 price objective on shares of Tecnoglass in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Tecnoglass has an average rating of Moderate Buy and a consensus price target of $51.80.

Tecnoglass Price Performance

Shares of TGLS traded up $2.93 during mid-day trading on Tuesday, reaching $58.37. The company had a trading volume of 700,012 shares, compared to its average volume of 339,751. Tecnoglass has a twelve month low of $28.21 and a twelve month high of $58.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.27 and a quick ratio of 1.60. The company's 50-day moving average is $47.83 and its 200-day moving average is $41.45. The company has a market capitalization of $2.74 billion, a P/E ratio of 15.16 and a beta of 1.80.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.05. The business had revenue of $194.60 million during the quarter, compared to analysts' expectations of $199.93 million. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. On average, equities analysts anticipate that Tecnoglass will post 3.7 EPS for the current year.

Tecnoglass Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Tecnoglass's previous quarterly dividend of $0.09. Tecnoglass's dividend payout ratio (DPR) is presently 11.43%.

Institutional Trading of Tecnoglass

Hedge funds have recently added to or reduced their stakes in the business. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Tecnoglass in the 3rd quarter valued at about $26,000. Tower Research Capital LLC TRC acquired a new stake in shares of Tecnoglass in the 3rd quarter valued at about $28,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Tecnoglass in the 1st quarter valued at about $29,000. BNP Paribas Arbitrage SNC acquired a new stake in shares of Tecnoglass in the 3rd quarter valued at about $65,000. Finally, Castleview Partners LLC acquired a new stake in shares of Tecnoglass in the 1st quarter valued at about $66,000. Institutional investors and hedge funds 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.