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

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

Several research firms have issued reports on TGLS. Robert W. Baird upped their price target on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. StockNews.com initiated coverage on shares of Tecnoglass in a research note on Thursday, November 28th. They set a “hold” rating on the stock. Stifel Nicolaus boosted their target price on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. B. Riley reissued a “neutral” rating and set a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Finally, Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Tuesday, October 22nd.

Tecnoglass Price Performance

NASDAQ TGLS opened at $81.84 on Friday. The stock has a market capitalization of $3.85 billion, a P/E ratio of 25.58 and a beta of 1.89. Tecnoglass has a 1 year low of $36.14 and a 1 year high of $82.68. The business’s fifty day moving average is $73.34 and its two-hundred day moving average is $61.16. 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 (NASDAQ:TGLS) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.11. The company had revenue of $237.90 million for 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 was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. On average, research analysts forecast that Tecnoglass will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 of this dividend was Monday, September 30th. Tecnoglass’s dividend payout ratio is currently 13.75%.

Insider Activity

In related news, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. 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

Large investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in Tecnoglass by 29.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock worth $134,994,000 after acquiring an additional 447,647 shares during the last quarter. William Blair Investment Management LLC lifted its position in Tecnoglass by 8.7% during the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock worth $88,060,000 after acquiring an additional 140,112 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Tecnoglass by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after acquiring an additional 96,602 shares during the last quarter. Geode Capital Management LLC lifted its position in Tecnoglass by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock worth $34,355,000 after acquiring an additional 22,700 shares during the last quarter. Finally, State Street Corp lifted its position in Tecnoglass by 29.1% during the 3rd quarter. State Street Corp now owns 416,964 shares of the company’s stock worth $28,674,000 after acquiring an additional 93,968 shares during the last quarter. 37.35% of the stock is currently 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.