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

Shares of Tecnoglass Inc. (NASDAQ:TGLS) have earned a consensus rating of “Hold” from the six research firms that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $77.40.

A number of brokerages have recently weighed in on TGLS. Robert W. Baird lifted their price objective on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research report on Tuesday, October 22nd. Raymond James cut shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. StockNews.com initiated coverage on shares of Tecnoglass in a research report on Saturday, December 14th. They set a “hold” rating on the stock. Finally, B. Riley restated a “neutral” rating and issued a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th.

Tecnoglass Stock Down 1.7 %

Shares of Tecnoglass stock opened at $80.68 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. Tecnoglass has a 52-week low of $40.94 and a 52-week high of $86.08. The company’s 50 day moving average price is $77.12 and its 200-day moving average price is $65.30. 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 (NASDAQ:TGLS) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.97 by $0.11. The firm had revenue of $237.90 million during the quarter, compared to the consensus estimate of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. Equities research analysts forecast that Tecnoglass will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.74%. 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 (DPR) is presently 18.75%.

Insider Buying and Selling

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total value of $104,573,402.40. Following the sale, the insider now directly owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors have recently made changes to their positions in TGLS. JPMorgan Chase & Co. lifted its position in Tecnoglass by 6.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,237 shares of the company’s stock valued at $1,321,000 after acquiring an additional 1,146 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Tecnoglass during the third quarter valued at $2,211,000. DGS Capital Management LLC purchased a new stake in shares of Tecnoglass during the third quarter valued at $204,000. Tidal Investments LLC purchased a new position in Tecnoglass in the 3rd quarter worth about $585,000. Finally, Virtu Financial LLC purchased a new position in Tecnoglass in the 3rd quarter worth about $422,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

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.