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

Tecnoglass Inc. (NASDAQ:TGLS) has received a consensus recommendation of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $62.17.

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

Hedge Funds Weigh In On Tecnoglass

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its position in shares of Tecnoglass by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock worth $19,248,000 after purchasing an additional 22,169 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Tecnoglass by 27.6% in 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 in the last quarter. Capstone Investment Advisors LLC grew its holdings in shares of Tecnoglass by 57.5% during the first quarter. Capstone Investment Advisors LLC now owns 47,368 shares of the company’s stock valued at $2,465,000 after buying an additional 17,292 shares during the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in shares of Tecnoglass during the first quarter worth about $2,074,000. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Tecnoglass by 295.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 20,630 shares of the company’s stock worth $1,073,000 after acquiring an additional 15,414 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Trading Up 2.9 %

TGLS stock opened at $68.90 on Friday. Tecnoglass has a 1-year low of $28.21 and a 1-year high of $69.79. The firm has a market cap of $3.24 billion, a P/E ratio of 19.86 and a beta of 1.86. The business’s 50 day moving average is $57.76 and its 200-day moving average is $53.46. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24.

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

Tecnoglass Announces Dividend

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

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.