Analysts Set Tecnoglass Inc. (NASDAQ:TGLS) Target Price at $67.33

Shares of Tecnoglass Inc. (NASDAQ:TGLS) have earned a consensus rating of “Hold” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $67.33.

A number of research firms have commented on TGLS. DA Davidson upped their price target on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Sidoti cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a report on Tuesday, October 22nd. Robert W. Baird upped their price objective on shares of Tecnoglass from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Raymond James lowered shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Finally, B. Riley reiterated a “neutral” rating and set a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th.

Tecnoglass Stock Performance

Shares of TGLS stock opened at $70.29 on Monday. 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 fifty-two week low of $29.55 and a fifty-two week high of $80.51. The company has a market capitalization of $3.30 billion, a P/E ratio of 22.53 and a beta of 1.86. The stock has a 50 day moving average price of $68.22 and a two-hundred day moving average price of $58.09.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $219.65 million during the quarter, compared to analysts’ expectations of $219.29 million. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 EPS. Analysts expect that Tecnoglass will post 3.46 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.11 per share. The ex-dividend date was Monday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.63%. Tecnoglass’s payout ratio is 14.10%.

Hedge Funds Weigh In On Tecnoglass

Institutional investors and hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC boosted its stake in Tecnoglass by 232.8% during the 1st quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock valued at $84,017,000 after purchasing an additional 1,129,603 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in shares of Tecnoglass by 219.7% during the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock valued at $10,949,000 after buying an additional 149,933 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Tecnoglass by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after buying an additional 96,602 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Tecnoglass during the second quarter valued at approximately $3,929,000. Finally, Impax Asset Management Group plc raised its holdings in shares of Tecnoglass by 65.0% during the third quarter. Impax Asset Management Group plc now owns 165,000 shares of the company’s stock valued at $11,329,000 after purchasing an additional 65,000 shares during the last quarter. 37.35% of the stock is currently owned by 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.