Analysts Set Tecnoglass Inc. (NASDAQ:TGLS) Price Target at $60.83

Tecnoglass Inc. (NASDAQ:TGLS) has been assigned an average rating of “Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $62.17.

TGLS has been the topic of several recent analyst reports. Stifel Nicolaus upped their price target on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a report on Friday, August 9th. DA Davidson upped their target price on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Sidoti raised shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Wednesday, June 26th. Finally, Robert W. Baird boosted their price objective on Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday.

Tecnoglass Price Performance

Shares of Tecnoglass stock opened at $67.57 on Friday. The business has a 50 day simple moving average of $57.15 and a two-hundred day simple moving average of $53.25. Tecnoglass has a 12 month low of $28.21 and a 12 month high of $68.67. The stock has a market capitalization of $3.18 billion, a P/E ratio of 19.47 and a beta of 1.86. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. The firm had revenue of $219.65 million for the quarter, compared to analyst estimates of $219.29 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. Tecnoglass’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 EPS. As a group, analysts predict that Tecnoglass will post 3.42 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.65%. Tecnoglass’s dividend payout ratio (DPR) is 12.68%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TGLS. Sanctuary Advisors LLC purchased a new stake in shares of Tecnoglass in the 2nd quarter valued at approximately $1,964,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Tecnoglass in the second quarter worth $589,000. Dark Forest Capital Management LP boosted its position in shares of Tecnoglass by 28.6% in the second quarter. Dark Forest Capital Management LP now owns 12,542 shares of the company’s stock worth $629,000 after buying an additional 2,789 shares during the period. Ensign Peak Advisors Inc grew its holdings in shares of Tecnoglass by 219.7% during the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock valued at $10,949,000 after buying an additional 149,933 shares in the last quarter. Finally, Amalgamated Bank acquired a new position in Tecnoglass during the second quarter valued at $39,000. 37.35% of the stock is owned by hedge funds and other institutional investors.

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.