Tecnoglass (NASDAQ:TGLS) Upgraded at BidaskClub
Several other research firms have also recently weighed in on TGLS. Goldman Sachs Group began coverage on Tecnoglass in a research note on Thursday, May 9th. They set a buy rating on the stock. Raymond James raised Tecnoglass from an outperform rating to a strong-buy rating and set a $10.00 price target for the company in a research note on Monday, July 1st. Zacks Investment Research raised Tecnoglass from a hold rating to a buy rating and set a $8.25 price target for the company in a research note on Tuesday, August 13th. Finally, DA Davidson initiated coverage on Tecnoglass in a research note on Thursday, May 30th. They issued a buy rating and a $9.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $10.71.
NASDAQ:TGLS opened at $7.24 on Wednesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.41 and a quick ratio of 1.84. Tecnoglass has a fifty-two week low of $6.08 and a fifty-two week high of $10.29. The stock’s 50-day moving average is $7.17 and its two-hundred day moving average is $7.37. The stock has a market cap of $334.20 million, a PE ratio of 8.52, a price-to-earnings-growth ratio of 0.43 and a beta of 0.99.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 7.73%. Tecnoglass’s dividend payout ratio (DPR) is presently 65.88%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in shares of Tecnoglass during the second quarter valued at approximately $69,000. Northern Trust Corp increased its position in shares of Tecnoglass by 39.6% during the second quarter. Northern Trust Corp now owns 33,415 shares of the company’s stock valued at $217,000 after purchasing an additional 9,484 shares during the period. Pinnacle Associates Ltd. bought a new stake in shares of Tecnoglass during the first quarter valued at approximately $256,000. First Manhattan Co. bought a new stake in shares of Tecnoglass during the second quarter valued at approximately $243,000. Finally, Connors Investor Services Inc. bought a new stake in shares of Tecnoglass during the second quarter valued at approximately $247,000. Institutional investors and hedge funds own 13.97% of the company’s stock.
Tecnoglass Company Profile
Tecnoglass Inc, through its subsidiaries, manufactures, supplies, and installs architectural glass, windows, and associated aluminum products for the commercial and residential construction industries in North, Central, and South America. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.
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