Tecnoglass (NASDAQ:TGLS) Reaches New 52-Week High - Here's Why

Tecnoglass Inc. (NASDAQ:TGLS - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $89.90 and last traded at $89.39, with a volume of 38584 shares. The stock had previously closed at $87.87.

Analysts Set New Price Targets

Separately, B. Riley assumed coverage on shares of Tecnoglass in a research report on Friday, May 16th. They set a "buy" rating and a $100.00 price objective for the company. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tecnoglass presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Tecnoglass Stock Performance

The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 27.60 and a beta of 1.84. 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 stock's fifty day simple moving average is $76.84 and its 200-day simple moving average is $76.65.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.10. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The business's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. Analysts predict that Tecnoglass Inc. will post 3.53 EPS for the current year.

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were issued a $0.15 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.68%. Tecnoglass's payout ratio is 16.22%.

Institutional Investors Weigh In On Tecnoglass

A number of hedge funds and other institutional investors have recently modified their holdings of TGLS. FMR LLC raised its holdings in shares of Tecnoglass by 49.2% in the 4th quarter. FMR LLC now owns 5,412,322 shares of the company's stock valued at $429,305,000 after purchasing an additional 1,785,602 shares in the last quarter. Capital World Investors acquired a new stake in Tecnoglass during the 4th quarter worth $23,530,000. Wellington Management Group LLP raised its stake in Tecnoglass by 15.6% during the 1st quarter. Wellington Management Group LLP now owns 1,883,864 shares of the company's stock worth $134,790,000 after acquiring an additional 254,686 shares in the last quarter. Marshall Wace LLP acquired a new stake in Tecnoglass during the 4th quarter worth $19,638,000. Finally, Invesco Ltd. raised its stake in Tecnoglass by 486.8% during the 4th quarter. Invesco Ltd. now owns 147,070 shares of the company's stock worth $11,666,000 after acquiring an additional 122,006 shares in the last quarter. 37.35% of the stock is currently owned by institutional investors and hedge funds.

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.