Tecnoglass (NASDAQ:TGLS) Given New $45.00 Price Target at Raymond James

Tecnoglass (NASDAQ:TGLS) had its price objective trimmed by Raymond James from $52.00 to $45.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a strong-buy rating on the stock.

Several other analysts have also issued reports on TGLS. Stifel Nicolaus dropped their price objective on Tecnoglass from $57.00 to $46.00 and set a buy rating on the stock in a research note on Tuesday. StockNews.com started coverage on Tecnoglass in a research note on Thursday, October 5th. They issued a hold rating on the stock.

Tecnoglass Stock Performance

TGLS opened at $31.89 on Tuesday. Tecnoglass has a 52-week low of $23.75 and a 52-week high of $54.40. The firm has a market capitalization of $1.52 billion, a PE ratio of 7.50 and a beta of 1.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.25. The business’s 50-day simple moving average is $34.09 and its 200 day simple moving average is $40.83.

Tecnoglass (NASDAQ:TGLS) last released its earnings results on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. Tecnoglass had a return on equity of 53.20% and a net margin of 24.07%. The business had revenue of $210.30 million for the quarter, compared to analyst estimates of $206.25 million. During the same quarter in the prior year, the company posted $1.01 earnings per share. Tecnoglass’s revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts expect that Tecnoglass will post 4.18 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Thursday, September 28th. Tecnoglass’s dividend payout ratio is currently 8.47%.

Institutional Investors Weigh In On Tecnoglass

A number of large investors have recently added to or reduced their stakes in TGLS. JPMorgan Chase & Co. grew its position in Tecnoglass by 39.5% during the first quarter. JPMorgan Chase & Co. now owns 25,671 shares of the company’s stock worth $648,000 after buying an additional 7,269 shares in the last quarter. BlackRock Inc. grew its position in Tecnoglass by 107.4% during the first quarter. BlackRock Inc. now owns 994,989 shares of the company’s stock worth $25,114,000 after buying an additional 515,151 shares in the last quarter. Sei Investments Co. grew its position in Tecnoglass by 45.1% during the first quarter. Sei Investments Co. now owns 265,750 shares of the company’s stock worth $6,708,000 after buying an additional 82,567 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Tecnoglass by 39.7% in the 1st quarter. Lazard Asset Management LLC now owns 28,909 shares of the company’s stock valued at $729,000 after purchasing an additional 8,212 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Tecnoglass by 11.8% in the 1st quarter. Renaissance Technologies LLC now owns 122,500 shares of the company’s stock valued at $3,092,000 after purchasing an additional 12,900 shares in the last quarter. Institutional investors and hedge funds own 23.64% of the company’s stock.

Tecnoglass Company Profile

Tecnoglass Inc, through its subsidiaries, designs, produces, markets, and installs architectural systems for the commercial and residential construction industries in Colombia, the United States, Panama, and internationally. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.