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

Tecnoglass Inc. (NASDAQ:TGLS) has been assigned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $62.17.

TGLS has been the subject of a number of recent analyst reports. Sidoti raised shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Wednesday, June 26th. DA Davidson lifted their target price on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. 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 research report on Friday, August 9th. Finally, Robert W. Baird lifted their price objective on Tecnoglass from $68.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th.

Tecnoglass Price Performance

Shares of NASDAQ:TGLS opened at $68.65 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43. Tecnoglass has a 52 week low of $28.21 and a 52 week high of $69.79. The firm has a market cap of $3.23 billion, a PE ratio of 19.78 and a beta of 1.86. The firm’s fifty day moving average is $58.05 and its 200-day moving average is $53.70.

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

Tecnoglass Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is currently 12.68%.

Hedge Funds Weigh In On Tecnoglass

A number of institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC increased its stake in Tecnoglass by 232.8% during the 1st quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock valued at $84,017,000 after purchasing an additional 1,129,603 shares in the last quarter. Owls Nest Partners IA LLC increased its position in shares of Tecnoglass by 200.1% during the fourth quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock worth $26,410,000 after acquiring an additional 385,265 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of Tecnoglass by 219.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after acquiring an additional 149,933 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Tecnoglass by 12.3% in the 2nd 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. Finally, Clearbridge Investments LLC boosted its stake in Tecnoglass by 27.6% during the 4th quarter. Clearbridge Investments LLC now owns 380,963 shares of the company’s stock valued at $17,414,000 after purchasing an additional 82,508 shares during the last quarter. 37.35% of the stock is owned by institutional investors and hedge funds.

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.