Tecnoglass (NASDAQ:TGLS) Stock Price Up 6%

Tecnoglass Inc. (NASDAQ:TGLS) shares rose 6% during mid-day trading on Tuesday . The company traded as high as $26.19 and last traded at $26.12. Approximately 4,211 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 317,490 shares. The stock had previously closed at $24.63.

TGLS has been the topic of a number of recent analyst reports. Colliers Securities reaffirmed a “buy” rating on shares of Tecnoglass in a research report on Thursday, July 1st. Robert W. Baird upped their target price on Tecnoglass from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, August 9th. Raymond James upped their target price on Tecnoglass from $15.00 to $26.00 and gave the company a “strong-buy” rating in a research report on Monday, August 9th. Zacks Investment Research lowered Tecnoglass from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Sidoti initiated coverage on Tecnoglass in a research report on Tuesday, September 21st. They set a “neutral” rating and a $25.00 price target on the stock. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $21.71.

The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 0.80 and a beta of 1.71. The company has a 50-day moving average of $22.58 and a 200-day moving average of $19.04. The company has a current ratio of 2.56, a quick ratio of 1.96 and a debt-to-equity ratio of 0.99.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings data on Friday, August 6th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.11. The firm had revenue of $121.71 million during the quarter, compared to the consensus estimate of $106.77 million. Tecnoglass had a return on equity of 29.50% and a net margin of 12.36%. On average, research analysts forecast that Tecnoglass Inc. will post 1.38 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 30th will be paid a dividend of $0.027 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $0.11 dividend on an annualized basis and a yield of 0.41%. Tecnoglass’s payout ratio is currently 13.92%.

In related news, Director Martha L. Byorum sold 8,000 shares of the company’s stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $24.46, for a total transaction of $195,680.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC grew its stake in shares of Tecnoglass by 98.1% in the first quarter. Acadian Asset Management LLC now owns 153,969 shares of the company’s stock worth $1,851,000 after purchasing an additional 76,242 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tecnoglass by 8.8% in the first quarter. Geode Capital Management LLC now owns 174,948 shares of the company’s stock worth $2,102,000 after purchasing an additional 14,217 shares in the last quarter. Northern Trust Corp grew its stake in shares of Tecnoglass by 3.8% in the first quarter. Northern Trust Corp now owns 44,402 shares of the company’s stock worth $533,000 after purchasing an additional 1,637 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Tecnoglass in the first quarter worth $186,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Tecnoglass by 23.9% in the first quarter. Dimensional Fund Advisors LP now owns 215,798 shares of the company’s stock worth $2,594,000 after purchasing an additional 41,622 shares in the last quarter. Hedge funds and other institutional investors own 18.79% of the company’s stock.

Tecnoglass Company Profile (NASDAQ:TGLS)

Tecnoglass, Inc is a holding company, which engages in the design, manufacturing, distribution, marketing, and installation of specification architectural glass and windows products sold to the construction industry. It operates through the following geographical segments: Colombia, United States, Panama, and Other.

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