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

Shares of Tecnoglass Inc. (NASDAQ:TGLS) have earned a consensus rating of “Hold” from the six ratings firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $77.40.

Several equities analysts have weighed in on the company. Stifel Nicolaus lifted 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. Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Robert W. Baird upped their price objective on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Tuesday, October 22nd. Finally, B. Riley reaffirmed a “neutral” rating and set a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th.

Insider Buying and Selling

In other Tecnoglass news, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total value of $2,222,771.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the transaction, 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 disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tecnoglass

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. bought a new position in shares of Tecnoglass during the third quarter worth about $2,211,000. Rhumbline Advisers acquired a new stake in Tecnoglass during the 2nd quarter valued at approximately $1,468,000. The Manufacturers Life Insurance Company bought a new position in Tecnoglass during the 2nd quarter worth approximately $589,000. GSA Capital Partners LLP raised its holdings in Tecnoglass by 262.4% during the 3rd quarter. GSA Capital Partners LLP now owns 20,089 shares of the company’s stock worth $1,379,000 after purchasing an additional 14,545 shares during the last quarter. Finally, Semanteon Capital Management LP bought a new stake in shares of Tecnoglass in the 3rd quarter valued at $1,237,000. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Trading Up 1.7 %

TGLS stock opened at $81.05 on Friday. Tecnoglass has a one year low of $33.90 and a one year high of $82.68. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 25.33 and a beta of 1.86. The company has a fifty day moving average price of $72.77 and a two-hundred day moving average price of $60.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63.

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

Tecnoglass Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is 13.75%.

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.