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

Tecnoglass Inc. (NASDAQ:TGLS) has earned an average rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $77.40.

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

Tecnoglass Price Performance

NASDAQ TGLS opened at $80.68 on Tuesday. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 25.21 and a beta of 1.89. Tecnoglass has a 1-year low of $40.94 and a 1-year high of $86.08. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The business’s fifty day moving average price is $77.12 and its 200-day moving average price is $65.30.

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

Tecnoglass Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 annualized dividend and a yield of 0.74%. The ex-dividend date is Tuesday, December 31st. Tecnoglass’s payout ratio is presently 18.75%.

Insider Activity

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

Institutional Investors Weigh In On Tecnoglass

Hedge funds and other institutional investors have recently modified their holdings of the business. Amalgamated Bank purchased a new position in Tecnoglass during the 2nd quarter valued at $39,000. Signaturefd LLC increased its stake in Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after purchasing an additional 663 shares during the period. DGS Capital Management LLC bought a new stake in shares of Tecnoglass during the third quarter worth $204,000. X Square Capital LLC boosted its stake in shares of Tecnoglass by 5.7% during the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after purchasing an additional 237 shares during the period. Finally, PFG Investments LLC bought a new position in shares of Tecnoglass in the second quarter worth about $220,000. 37.35% of the stock is currently owned by hedge funds and other 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.