Tecnoglass (NYSE:TGLS) Hits New 12-Month Low – Here’s What Happened
by Danessa Lincoln · The Markets DailyShares of Tecnoglass Inc. (NYSE:TGLS – Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $37.35 and last traded at $38.07, with a volume of 14209 shares trading hands. The stock had previously closed at $37.72.
Analysts Set New Price Targets
TGLS has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tecnoglass in a research note on Monday, August 17th. Zacks Research raised shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.33.
Check Out Our Latest Analysis on Tecnoglass
Tecnoglass Price Performance
The stock has a market capitalization of $1.71 billion and a P/E ratio of 13.62. The company has a 50 day moving average of $43.66 and a 200-day moving average of $43.99. The company has a quick ratio of 1.17, a current ratio of 1.86 and a debt-to-equity ratio of 0.28.
Tecnoglass (NYSE:TGLS – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $295.29 million during the quarter. Tecnoglass had a net margin of 12.35% and a return on equity of 17.84%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. Sell-side analysts predict that Tecnoglass Inc. will post 2.58 EPS for the current year.
Tecnoglass Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Tecnoglass’s dividend payout ratio is currently 21.13%.
Hedge Funds Weigh In On Tecnoglass
Large investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in Tecnoglass by 8.3% during the 1st quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock valued at $224,000 after purchasing an additional 238 shares during the period. AQR Capital Management LLC increased its position in Tecnoglass by 25.8% in the first quarter. AQR Capital Management LLC now owns 3,505 shares of the company’s stock worth $251,000 after buying an additional 719 shares during the period. Intech Investment Management LLC increased its position in Tecnoglass by 21.4% in the first quarter. Intech Investment Management LLC now owns 17,918 shares of the company’s stock worth $1,282,000 after buying an additional 3,161 shares during the period. Legal & General Group Plc lifted its stake in Tecnoglass by 23.9% in the second quarter. Legal & General Group Plc now owns 5,115 shares of the company’s stock valued at $396,000 after buying an additional 987 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in Tecnoglass in the second quarter valued at $217,000. Institutional investors own 37.35% of the company’s stock.
About Tecnoglass
Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.
Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.
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