Robert W. Baird Increases Tecnoglass (NASDAQ:TGLS) Price Target to $76.00

Tecnoglass (NASDAQ:TGLS) had its price objective raised by Robert W. Baird from $68.00 to $76.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently issued reports on TGLS. Sidoti raised Tecnoglass from a neutral rating to a buy rating and set a $68.00 price target for the company in a report on Wednesday, June 26th. Stifel Nicolaus raised their target price on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a hold rating in a research note on Friday, August 9th. Finally, DA Davidson upped their price target on shares of Tecnoglass from $60.00 to $65.00 and gave the company a buy rating in a research note on Tuesday, August 13th. 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 stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $62.17.

Tecnoglass Stock Performance

Shares of TGLS opened at $68.90 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80. The firm has a 50-day moving average of $57.76 and a 200-day moving average of $53.46. The company has a market cap of $3.24 billion, a PE ratio of 19.86 and a beta of 1.86. Tecnoglass has a one year low of $28.21 and a one year high of $69.79.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The firm had revenue of $219.65 million for the quarter, compared to the consensus estimate of $219.29 million. During the same quarter in the previous year, the business earned $1.12 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Tecnoglass will post 3.42 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s dividend payout ratio is 12.68%.

Institutional Trading of Tecnoglass

A number of institutional investors have recently bought and sold shares of the business. Jump Financial LLC raised its position in shares of Tecnoglass by 30.3% in the fourth quarter. Jump Financial LLC now owns 8,462 shares of the company’s stock valued at $387,000 after buying an additional 1,969 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Tecnoglass by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 732,736 shares of the company’s stock valued at $33,495,000 after acquiring an additional 37,091 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Tecnoglass by 27.6% during the 4th quarter. Clearbridge Investments LLC now owns 380,963 shares of the company’s stock valued at $17,414,000 after acquiring an additional 82,508 shares during the period. Prospector Partners LLC acquired a new stake in shares of Tecnoglass during the 4th quarter worth $2,071,000. Finally, 1492 Capital Management LLC bought a new position in shares of Tecnoglass in the fourth quarter worth $3,468,000. Institutional investors own 37.35% of the company’s stock.

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.