Analysts Set Tecnoglass Inc. (NASDAQ:TGLS) Target Price at $60.83

Shares of Tecnoglass Inc. (NASDAQ:TGLS) have been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $62.17.

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

Tecnoglass Trading Up 1.2 %

Shares of Tecnoglass stock opened at $67.57 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43. Tecnoglass has a 52 week low of $28.21 and a 52 week high of $68.67. The stock has a 50 day moving average price of $57.15 and a two-hundred day moving average price of $53.25. The stock has a market capitalization of $3.18 billion, a PE ratio of 19.47 and a beta of 1.86.

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

Tecnoglass Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, September 30th. This represents a $0.44 annualized dividend and a yield of 0.65%. Tecnoglass’s payout ratio is presently 12.68%.

Institutional Trading of Tecnoglass

A number of hedge funds have recently modified their holdings of TGLS. M&T Bank Corp acquired a new position in Tecnoglass in the 4th quarter worth about $244,000. Jump Financial LLC raised its holdings in Tecnoglass by 30.3% in the 4th quarter. Jump Financial LLC now owns 8,462 shares of the company’s stock worth $387,000 after purchasing an additional 1,969 shares during the period. Dimensional Fund Advisors LP raised its holdings in Tecnoglass by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 732,736 shares of the company’s stock worth $33,495,000 after purchasing an additional 37,091 shares during the period. Clearbridge Investments LLC raised its holdings in Tecnoglass by 27.6% in the 4th quarter. Clearbridge Investments LLC now owns 380,963 shares of the company’s stock worth $17,414,000 after purchasing an additional 82,508 shares during the period. Finally, Renaissance Group LLC raised its holdings in Tecnoglass by 12.4% in the 4th quarter. Renaissance Group LLC now owns 192,062 shares of the company’s stock worth $8,782,000 after purchasing 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.