Brokerages Set Tecnoglass Inc. (NASDAQ:TGLS) Price Target at $63.67

Tecnoglass Inc. (NASDAQ:TGLS) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $64.17.

Several research analysts recently commented on the stock. 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 report on Wednesday, June 26th. Robert W. Baird boosted 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. Stifel Nicolaus raised their price objective on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a report on Friday, August 9th. B. Riley reiterated a “neutral” rating and issued a $72.00 target price (up from $69.00) on shares of Tecnoglass in a report on Thursday. Finally, DA Davidson raised their price objective on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th.

Tecnoglass Trading Up 2.9 %

Tecnoglass stock opened at $74.66 on Thursday. Tecnoglass has a 52-week low of $28.21 and a 52-week high of $75.07. The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 23.93 and a beta of 1.86. The firm has a 50-day moving average price of $63.01 and a two-hundred day moving average price of $55.99.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Thursday, August 8th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $219.65 million during the quarter, compared to the consensus estimate of $219.29 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. Tecnoglass’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 earnings per share. Sell-side analysts expect that Tecnoglass will post 3.44 earnings per share for the current year.

Tecnoglass Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s dividend payout ratio is currently 14.10%.

Institutional Investors Weigh In On Tecnoglass

Several hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC raised its stake in shares of Tecnoglass by 8.7% during the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after buying an additional 140,112 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Tecnoglass by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock valued at $44,385,000 after acquiring an additional 96,602 shares in the last quarter. Owls Nest Partners IA LLC boosted its stake in Tecnoglass by 200.1% in the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock worth $26,410,000 after buying an additional 385,265 shares during the last quarter. Wellington Management Group LLP lifted its holdings 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 acquiring an additional 22,169 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Tecnoglass by 2.3% during the first quarter. Clearbridge Investments LLC now owns 389,876 shares of the company’s stock worth $20,285,000 after acquiring an additional 8,913 shares during the last quarter. 37.35% of the stock is owned by 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.