Stifel Nicolaus Increases Tecnoglass (NASDAQ:TGLS) Price Target to $59.00

Tecnoglass (NASDAQ:TGLS) had its target price raised by Stifel Nicolaus from $50.00 to $59.00 in a research report report published on Friday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other brokerages also recently weighed in on TGLS. Robert W. Baird boosted their price objective on shares of Tecnoglass from $60.00 to $68.00 and gave the stock an outperform rating in a research report on Friday. Sidoti upgraded shares of Tecnoglass from a neutral rating to a buy rating and set a $68.00 price objective for the company in a research report on Wednesday, June 26th. Finally, B. Riley reiterated a buy rating and issued a $60.00 price target (down previously from $65.00) on shares of Tecnoglass in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $58.33.

Tecnoglass Stock Up 3.9 %

NASDAQ:TGLS traded up $2.08 during mid-day trading on Friday, hitting $56.09. The stock had a trading volume of 654,333 shares, compared to its average volume of 398,549. The stock has a 50-day simple moving average of $49.81 and a two-hundred day simple moving average of $50.37. The company has a market capitalization of $2.64 billion, a PE ratio of 16.16 and a beta of 1.85. Tecnoglass has a twelve month low of $28.21 and a twelve month high of $59.76. The company has a current ratio of 2.33, a quick ratio of 1.72 and a debt-to-equity ratio of 0.27.

Tecnoglass (NASDAQ:TGLS) last issued its earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $219.65 million for the quarter, compared to analysts’ expectations of $219.29 million. Tecnoglass had a net margin of 19.97% and a return on equity of 31.85%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 earnings per share. On average, equities research analysts anticipate that Tecnoglass will post 3.37 EPS for the current year.

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a $0.11 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.44 annualized dividend and a yield of 0.78%. Tecnoglass’s dividend payout ratio is currently 12.68%.

Hedge Funds Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of Tecnoglass by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after purchasing an additional 96,602 shares during the period. William Blair Investment Management LLC grew its stake in Tecnoglass by 8.7% in the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after acquiring an additional 140,112 shares during the last quarter. PFG Investments LLC acquired a new stake in Tecnoglass in the 2nd quarter valued at about $220,000. X Square Capital LLC grew its stake in Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after acquiring an additional 237 shares during the last quarter. Finally, Rhumbline Advisers acquired a new stake in Tecnoglass in the 2nd quarter valued at about $1,468,000. 37.35% of the stock is 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.