Tecnoglass (NASDAQ:TGLS) Hits New 12-Month High – Should You Buy?

Tecnoglass Inc. (NASDAQ:TGLS) reached a new 52-week high during trading on Monday . The stock traded as high as $82.01 and last traded at $81.80, with a volume of 43323 shares traded. The stock had previously closed at $79.34.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TGLS shares. Sidoti lowered Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Tuesday, October 22nd. Raymond James downgraded shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus lifted their target price on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. B. Riley reissued a “neutral” rating and set a $72.00 price target (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Finally, Robert W. Baird lifted their price objective on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tecnoglass has an average rating of “Hold” and an average price target of $77.40.

Tecnoglass Trading Up 2.6 %

The company has a market capitalization of $3.82 billion, a P/E ratio of 25.43 and a beta of 1.86. The stock has a 50 day moving average of $71.54 and a 200-day moving average of $59.85. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. The business had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. On average, research analysts predict that Tecnoglass Inc. will post 3.55 EPS for the current year.

Tecnoglass Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.44 annualized dividend and a yield of 0.54%. Tecnoglass’s payout ratio is 13.75%.

Insider Activity

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

Hedge Funds Weigh In On Tecnoglass

Institutional investors have recently made changes to their positions in the company. Signaturefd LLC grew its holdings in Tecnoglass by 4,735.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after acquiring an additional 663 shares in the last quarter. Amalgamated Bank purchased a new position in Tecnoglass during the second quarter valued at approximately $39,000. Wolverine Trading LLC purchased a new stake in Tecnoglass during the third quarter worth $225,000. X Square Capital LLC increased its holdings in shares of 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 period. Finally, PFG Investments LLC bought a new position in shares of Tecnoglass in the 2nd quarter worth $220,000. Hedge funds and other 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.