Tecnoglass Inc. (NASDAQ:TGLS) Receives $60.83 Consensus Target Price from Brokerages

Shares of Tecnoglass Inc. (NASDAQ:TGLS) have received a consensus rating of “Buy” from the six analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $62.17.

A number of research analysts have weighed in on TGLS shares. DA Davidson lifted their target price on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Stifel Nicolaus upped their target price on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Robert W. Baird raised their price target on shares of Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Sidoti raised shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Wednesday, June 26th.

Tecnoglass Price Performance

Shares of NASDAQ TGLS opened at $68.90 on Friday. The company has a market capitalization of $3.24 billion, a PE ratio of 19.86 and a beta of 1.86. The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average price is $57.76 and its 200-day moving average price is $53.46. Tecnoglass has a twelve month low of $28.21 and a twelve month high of $69.79.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The business had revenue of $219.65 million for the quarter, compared to analyst estimates of $219.29 million. During the same quarter in the previous year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities analysts anticipate that Tecnoglass will post 3.42 EPS for the current year.

Tecnoglass Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.64%. The ex-dividend date is Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is 12.68%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. M&T Bank Corp purchased a new position in Tecnoglass in the fourth quarter worth about $244,000. Jump Financial LLC boosted its holdings in shares of Tecnoglass by 30.3% in the fourth quarter. Jump Financial LLC now owns 8,462 shares of the company’s stock worth $387,000 after buying an additional 1,969 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Tecnoglass by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 732,736 shares of the company’s stock valued at $33,495,000 after buying an additional 37,091 shares during the period. Clearbridge Investments LLC increased its holdings in Tecnoglass by 27.6% during the fourth quarter. Clearbridge Investments LLC now owns 380,963 shares of the company’s stock valued at $17,414,000 after buying an additional 82,508 shares during the last quarter. Finally, Renaissance Group LLC raised its position in Tecnoglass by 12.4% in the fourth quarter. Renaissance Group LLC now owns 192,062 shares of the company’s stock worth $8,782,000 after acquiring an additional 21,243 shares during the period. Hedge funds and other institutional investors own 37.35% of the company’s stock.

About Tecnoglass

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.