Tecnoglass Inc. (NASDAQ:TGLS) Receives $77.40 Average Target Price from Brokerages

Tecnoglass Inc. (NASDAQ:TGLS) has been assigned a consensus rating of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $77.40.

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

Tecnoglass Price Performance

Shares of NASDAQ:TGLS opened at $75.81 on Wednesday. The company has a market capitalization of $3.56 billion, a P/E ratio of 23.69 and a beta of 1.88. Tecnoglass has a 1-year low of $40.94 and a 1-year high of $86.99. The firm’s 50 day simple moving average is $79.54 and its two-hundred day simple moving average is $72.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63.

Tecnoglass Increases Dividend

The firm also recently announced 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 was Tuesday, December 31st. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.79%. Tecnoglass’s dividend payout ratio (DPR) is 18.75%.

Institutional Investors Weigh In On Tecnoglass

Hedge funds have recently bought and sold shares of the business. USA Financial Formulas bought a new stake in shares of Tecnoglass in the 4th quarter worth about $26,000. Signaturefd LLC increased its stake in Tecnoglass by 4,735.7% during the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after acquiring an additional 663 shares during the last quarter. R Squared Ltd purchased a new stake in Tecnoglass during the fourth quarter valued at approximately $70,000. Covestor Ltd lifted its stake in shares of Tecnoglass by 6,293.8% in the 4th quarter. Covestor Ltd now owns 1,023 shares of the company’s stock valued at $81,000 after purchasing an additional 1,007 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Tecnoglass by 18.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,079 shares of the company’s stock worth $86,000 after purchasing an additional 170 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.