Analysts Set Tecnoglass Inc. (NYSE:TGLS) Price Target at $63.33

Tecnoglass Inc. (NYSE:TGLS) has been given a consensus recommendation of “Hold” by the five analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $63.3333.

Several analysts recently commented on TGLS shares. DA Davidson cut their price objective on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Weiss Ratings downgraded shares of Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. B. Riley Financial cut their price objective on shares of Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Robert W. Baird cut their price objective on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. Finally, Zacks Research downgraded shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd.

Tecnoglass Stock Down 0.4%

NYSE:TGLS opened at $41.06 on Friday. The firm’s 50-day moving average price is $42.83 and its 200-day moving average price is $47.57. The company has a market capitalization of $1.82 billion, a PE ratio of 12.71, a P/E/G ratio of 0.69 and a beta of 1.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.15. Tecnoglass has a 1-year low of $37.52 and a 1-year high of $90.34.

Tecnoglass (NYSE:TGLS) last released its earnings results on Friday, May 8th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $249.01 million for the quarter, compared to the consensus estimate of $243.00 million. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS. On average, equities analysts predict that Tecnoglass will post 2.73 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, March 31st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, March 31st. Tecnoglass’s dividend payout ratio is 18.58%.

Insider Activity

In other news, major shareholder Holding Corp Energy acquired 19,121 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $40.27 per share, with a total value of $770,002.67. Following the transaction, the insider owned 20,831,985 shares of the company’s stock, valued at $838,904,035.95. This trade represents a 0.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anne Louise Carricarte acquired 1,100 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were purchased at an average cost of $43.27 per share, for a total transaction of $47,597.00. Following the completion of the transaction, the director directly owned 1,100 shares in the company, valued at $47,597. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 622,995 shares of company stock worth $26,962,660 over the last three months. 0.06% of the stock is currently owned by insiders.

Institutional Trading of Tecnoglass

A number of institutional investors have recently made changes to their positions in TGLS. First Horizon Corp purchased a new stake in shares of Tecnoglass during the 3rd quarter valued at about $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Tecnoglass during the 4th quarter valued at about $28,000. Arax Advisory Partners boosted its holdings in shares of Tecnoglass by 128.4% during the 4th quarter. Arax Advisory Partners now owns 596 shares of the company’s stock valued at $30,000 after acquiring an additional 335 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Tecnoglass by 290.2% during the 3rd quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock valued at $40,000 after acquiring an additional 444 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Tecnoglass by 444.0% during the 1st quarter. Parallel Advisors LLC now owns 952 shares of the company’s stock valued at $42,000 after acquiring an additional 777 shares during the last quarter. Hedge funds and other institutional investors own 37.35% of the company’s stock.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.