Tecnoglass (NASDAQ:TGLS) Price Target Raised to $65.00

Tecnoglass (NASDAQ:TGLS - Free Report) had its price target upped by Robert W. Baird from $56.00 to $65.00 in a research note released on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on the company. Stifel Nicolaus cut Tecnoglass from a buy rating to a hold rating and lowered their price target for the company from $48.00 to $45.00 in a report on Wednesday, February 14th. B. Riley raised their price objective on Tecnoglass from $51.00 to $65.00 and gave the company a buy rating in a report on Tuesday, April 9th. Finally, DA Davidson reissued a buy rating and set a $50.00 price objective on shares of Tecnoglass in a report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $54.00.

Tecnoglass Price Performance

TGLS traded down $0.67 during trading on Thursday, reaching $56.48. 270,965 shares of the company were exchanged, compared to its average volume of 349,914. The company's 50-day moving average is $49.33 and its two-hundred day moving average is $42.55. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 14.67 and a beta of 1.80. The company has a quick ratio of 1.60, a current ratio of 2.27 and a debt-to-equity ratio of 0.30. Tecnoglass has a 12-month low of $28.21 and a 12-month high of $59.76.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.05. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. The firm had revenue of $194.60 million for the quarter, compared to analysts' expectations of $199.93 million. Research analysts forecast that Tecnoglass will post 3.7 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.78%. This is a positive change from Tecnoglass's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, March 27th. Tecnoglass's dividend payout ratio (DPR) is presently 11.43%.

Hedge Funds Weigh In On Tecnoglass

Several institutional investors and hedge funds have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. bought a new position in Tecnoglass during the 4th quarter worth approximately $791,000. Vanguard Group Inc. grew its position in Tecnoglass by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 313,319 shares of the company's stock worth $14,322,000 after acquiring an additional 17,879 shares during the last quarter. Wellington Management Group LLP grew its position in Tecnoglass by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 421,086 shares of the company's stock worth $19,248,000 after acquiring an additional 22,169 shares during the last quarter. Virtu Financial LLC bought a new position in Tecnoglass during the 4th quarter worth approximately $274,000. Finally, Owls Nest Partners IA LLC grew its position in Tecnoglass by 200.1% during the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company's stock worth $26,410,000 after acquiring an additional 385,265 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.