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

Shares of Tecnoglass Inc. (NASDAQ:TGLS) have received a consensus recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat.com reports. Four investment 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 analysts that have issued ratings on the stock in the last year is $77.40.

Several research analysts have recently weighed in on TGLS shares. B. Riley reissued 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. StockNews.com initiated coverage on shares of Tecnoglass in a report on Saturday, December 14th. They issued a “hold” rating on the stock. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a report on Tuesday, October 22nd. Raymond James lowered shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price objective on shares of Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th.

Insider Buying and Selling

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

Institutional Investors Weigh In On Tecnoglass

Several large investors have recently modified their holdings of the company. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Tecnoglass by 3.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 9,596 shares of the company’s stock worth $659,000 after purchasing an additional 287 shares during the period. USA Financial Formulas acquired a new stake in shares of Tecnoglass during the fourth quarter worth $26,000. Signaturefd LLC lifted its holdings in shares of Tecnoglass by 4,735.7% during 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. Amalgamated Bank acquired a new stake in shares of Tecnoglass during the second quarter worth $39,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Tecnoglass by 6.3% during the third quarter. JPMorgan Chase & Co. now owns 19,237 shares of the company’s stock worth $1,321,000 after purchasing an additional 1,146 shares during the period. 37.35% of the stock is owned by institutional investors and hedge funds.

Tecnoglass Trading Up 0.1 %

Shares of TGLS stock opened at $86.09 on Friday. The company’s 50-day moving average price is $79.87 and its 200-day moving average price is $69.01. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 26.90 and a beta of 1.90. Tecnoglass has a twelve month low of $40.94 and a twelve month high of $86.99.

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

Tecnoglass Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.70%. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, December 31st. Tecnoglass’s dividend payout ratio is presently 18.75%.

Tecnoglass Company Profile

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.