Tecnoglass Inc. (NASDAQ:TGLS) Receives $77.40 Consensus Target Price from Analysts

Shares of Tecnoglass Inc. (NASDAQ:TGLS) have been assigned an average rating of “Hold” from the six research firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $77.40.

A number of research firms recently weighed in on TGLS. Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research note on Tuesday, October 22nd. StockNews.com started coverage on Tecnoglass in a research report on Saturday, December 14th. They set a “hold” rating on the stock. Robert W. Baird increased their price target on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, DA Davidson lifted their price objective on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th.

Tecnoglass Price Performance

Shares of NASDAQ TGLS opened at $74.97 on Wednesday. The firm has a market capitalization of $3.52 billion, a P/E ratio of 23.43 and a beta of 1.88. The firm’s 50-day moving average price is $79.40 and its 200-day moving average price is $72.24. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. Tecnoglass has a 1-year low of $40.94 and a 1-year high of $86.99.

Tecnoglass Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 0.80%. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s dividend payout ratio (DPR) is 18.75%.

Institutional Investors Weigh In On Tecnoglass

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of Tecnoglass by 49.2% in the fourth quarter. FMR LLC now owns 5,412,322 shares of the company’s stock valued at $429,305,000 after purchasing an additional 1,785,602 shares during the period. Wellington Management Group LLP lifted its position in shares of Tecnoglass by 29.5% during the third quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock worth $134,994,000 after acquiring an additional 447,647 shares in the last quarter. Capital World Investors bought a new position in shares of Tecnoglass in the fourth quarter worth $23,530,000. Marshall Wace LLP purchased a new position in shares of Tecnoglass in the fourth quarter valued at $19,638,000. Finally, Invesco Ltd. raised its stake in shares of Tecnoglass by 486.8% during the 4th quarter. Invesco Ltd. now owns 147,070 shares of the company’s stock valued at $11,666,000 after purchasing an additional 122,006 shares during the period. 37.35% of the stock is owned by hedge funds and other institutional investors.

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.