Robert W. Baird Boosts Tecnoglass (NASDAQ:TGLS) Price Target to $65.00

Tecnoglass (NASDAQ:TGLS) had its target price lifted by Robert W. Baird from $56.00 to $65.00 in a research report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts also recently weighed in on TGLS. Stifel Nicolaus downgraded Tecnoglass from a buy rating to a hold rating and cut their price target for the company from $48.00 to $45.00 in a report on Wednesday, February 14th. B. Riley boosted their price target 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 reiterated a buy rating and issued a $50.00 price target 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $54.00.

Tecnoglass Trading Down 3.2 %

Shares of Tecnoglass stock opened at $54.71 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.27 and a quick ratio of 1.60. Tecnoglass has a 1 year low of $28.21 and a 1 year high of $59.76. The company has a market capitalization of $2.57 billion, a P/E ratio of 14.21 and a beta of 1.80. The business has a 50 day moving average price of $49.45 and a 200 day moving average price of $42.71.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $199.93 million. Sell-side analysts anticipate that Tecnoglass will post 3.7 EPS for the current fiscal year.

Tecnoglass Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from Tecnoglass’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.80%. Tecnoglass’s payout ratio is currently 11.43%.

Institutional Trading of Tecnoglass

Several institutional investors have recently made changes to their positions in TGLS. American Century Companies Inc. grew its stake in shares of Tecnoglass by 84.6% during the 3rd quarter. American Century Companies Inc. now owns 2,105,685 shares of the company’s stock valued at $69,403,000 after buying an additional 965,316 shares during the period. BlackRock Inc. grew its stake in shares of Tecnoglass by 107.4% during the 1st quarter. BlackRock Inc. now owns 994,989 shares of the company’s stock valued at $25,114,000 after buying an additional 515,151 shares during the period. Owls Nest Partners IA LLC grew its stake in shares of Tecnoglass by 200.1% during the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock valued at $26,410,000 after buying an additional 385,265 shares during the period. Cooke & Bieler LP grew its stake in shares of Tecnoglass by 35.8% during the 4th quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock valued at $59,431,000 after buying an additional 342,451 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Tecnoglass by 58.8% during the 4th quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock valued at $37,288,000 after buying an additional 302,163 shares during the period. 37.35% of the stock is owned by hedge funds and other 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.