Tecnoglass Inc. (NASDAQ:TGLS) Receives $63.67 Consensus Target Price from Brokerages

Tecnoglass Inc. (NASDAQ:TGLSGet Free Report) has received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $64.17.

Several research firms recently commented on TGLS. Sidoti upgraded shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Wednesday, June 26th. B. Riley restated a “neutral” rating and issued a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Stifel Nicolaus raised their price target on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a report on Friday, August 9th. DA Davidson raised their price target on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, Robert W. Baird increased their price objective on shares of Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th.

Read Our Latest Report on TGLS

Tecnoglass Stock Performance

Shares of TGLS opened at $75.79 on Thursday. The firm has a fifty day moving average of $63.52 and a 200-day moving average of $56.18. Tecnoglass has a 1 year low of $28.21 and a 1 year high of $76.25. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 21.84 and a beta of 1.86. 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 (NASDAQ:TGLSGet Free Report) 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. The business had revenue of $219.65 million for the quarter, compared to the consensus estimate of $219.29 million. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 EPS. As a group, equities analysts anticipate that Tecnoglass will post 3.44 earnings per share for the current year.

Tecnoglass Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.44 annualized dividend and a yield of 0.58%. Tecnoglass’s dividend payout ratio (DPR) is presently 12.68%.

Institutional Trading of Tecnoglass

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in shares of Tecnoglass by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock valued at $19,248,000 after purchasing an additional 22,169 shares in the last quarter. Capstone Investment Advisors LLC lifted its position in Tecnoglass by 57.5% during the first quarter. Capstone Investment Advisors LLC now owns 47,368 shares of the company’s stock valued at $2,465,000 after purchasing an additional 17,292 shares during the period. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Tecnoglass during the 1st quarter valued at $2,074,000. Commonwealth Equity Services LLC grew its stake in shares of Tecnoglass by 295.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 20,630 shares of the company’s stock valued at $1,073,000 after purchasing an additional 15,414 shares during the period. Finally, Owls Nest Partners IA LLC increased its holdings in Tecnoglass by 200.1% during the fourth quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock valued at $26,410,000 after buying an additional 385,265 shares during the last quarter. 37.35% of the stock is owned by institutional investors.

About Tecnoglass

(Get Free Report

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.

Further Reading

Analyst Recommendations for Tecnoglass (NASDAQ:TGLS)

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