Brokerages Set Tecnoglass Inc. (NASDAQ:TGLS) Price Target at $77.40

Shares of Tecnoglass Inc. (NASDAQ:TGLS) have earned an average recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $77.40.

A number of equities research analysts have weighed in on the company. Sidoti lowered 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. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. B. Riley reaffirmed a “neutral” rating and set a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. DA Davidson raised their target price on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, StockNews.com began coverage on Tecnoglass in a research note on Saturday, December 14th. They set a “hold” rating for the company.

Insider Transactions at Tecnoglass

In other news, Director Julio A. Torres sold 30,520 shares of Tecnoglass stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total value of $2,222,771.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total value of $104,573,402.40. Following the completion of the transaction, the insider now owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Tecnoglass

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in shares of Tecnoglass by 29.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock valued at $134,994,000 after purchasing an additional 447,647 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Tecnoglass by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock valued at $44,385,000 after buying an additional 96,602 shares during the last quarter. Geode Capital Management LLC lifted its position in Tecnoglass by 4.8% during the third quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock worth $34,355,000 after acquiring an additional 22,700 shares during the last quarter. State Street Corp increased its position in Tecnoglass by 29.1% during the third quarter. State Street Corp now owns 416,964 shares of the company’s stock worth $28,674,000 after acquiring an additional 93,968 shares during the period. Finally, Ensign Peak Advisors Inc raised its holdings in Tecnoglass by 219.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock valued at $10,949,000 after acquiring an additional 149,933 shares in the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Stock Up 3.3 %

Shares of TGLS opened at $83.98 on Friday. The company’s fifty day moving average is $79.38 and its two-hundred day moving average is $68.64. Tecnoglass has a fifty-two week low of $40.94 and a fifty-two week high of $86.08. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.95 billion, a PE ratio of 26.24 and a beta of 1.90.

Tecnoglass (NASDAQ:TGLS) last issued its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The business had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. During the same quarter last year, the firm posted $0.98 EPS. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. Analysts forecast that Tecnoglass will post 3.55 earnings per share for the current year.

Tecnoglass Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.71%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, December 31st. Tecnoglass’s dividend payout ratio is currently 18.75%.

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.