Tecnoglass (NASDAQ:TGLS) Hits New 1-Year High – Time to Buy?

Tecnoglass Inc. (NASDAQ:TGLSGet Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $86.10 and last traded at $86.09, with a volume of 69536 shares changing hands. The stock had previously closed at $84.05.

Wall Street Analysts Forecast Growth

TGLS has been the topic of a number of recent analyst reports. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research report on Tuesday, October 22nd. DA Davidson raised their price target on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. StockNews.com initiated coverage on shares of Tecnoglass in a research note on Saturday, December 14th. They issued a “hold” rating on the stock. Finally, Robert W. Baird increased their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $77.40.

Get Our Latest Analysis on TGLS

Tecnoglass Price Performance

The stock has a market capitalization of $4.05 billion, a PE ratio of 26.94 and a beta of 1.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The firm’s 50 day simple moving average is $79.87 and its 200 day simple moving average is $69.01.

Tecnoglass (NASDAQ:TGLSGet Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.11. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The business had revenue of $237.90 million during the quarter, compared to the consensus estimate of $240.19 million. During the same period in the previous year, the firm posted $0.98 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities analysts forecast that Tecnoglass Inc. will post 3.55 EPS for the current fiscal year.

Tecnoglass Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.15 dividend. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.70%. Tecnoglass’s dividend payout ratio (DPR) is currently 18.75%.

Insider Activity

In other Tecnoglass news, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total value of $104,573,402.40. Following the completion of the sale, the insider now directly owns 23,195,988 shares in the company, valued at $1,693,771,043.76. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Tecnoglass

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new position in shares of Tecnoglass in the 3rd quarter worth about $2,211,000. Tidal Investments LLC bought a new stake in Tecnoglass during the 3rd quarter valued at about $585,000. Barclays PLC raised its holdings in Tecnoglass by 32.2% in the third quarter. Barclays PLC now owns 35,376 shares of the company’s stock worth $2,429,000 after buying an additional 8,613 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Tecnoglass in the second quarter worth approximately $589,000. Finally, GSA Capital Partners LLP increased its position in shares of Tecnoglass by 262.4% during the third quarter. GSA Capital Partners LLP now owns 20,089 shares of the company’s stock valued at $1,379,000 after acquiring an additional 14,545 shares in the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Company Profile

(Get Free Report)

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.

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