Tecnoglass Inc. (NYSE:TGLS) Receives $63.33 Consensus Target Price from Analysts

Tecnoglass Inc. (NYSE:TGLS) has earned an average rating of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $63.3333.

A number of research firms recently commented on TGLS. B. Riley Financial decreased their price objective on shares of Tecnoglass from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Robert W. Baird decreased their price objective on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Zacks Research raised shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. DA Davidson decreased their price objective on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Weiss Ratings lowered shares of Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th.

Tecnoglass Price Performance

NYSE TGLS opened at $44.91 on Wednesday. Tecnoglass has a 12 month low of $37.52 and a 12 month high of $83.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.15. The firm has a market capitalization of $1.99 billion, a PE ratio of 13.90, a P/E/G ratio of 0.73 and a beta of 1.42. The company’s 50 day simple moving average is $42.80 and its 200 day simple moving average is $46.89.

Tecnoglass (NYSE:TGLS) last issued 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 during the quarter, compared to analysts’ expectations of $243.00 million. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. As a group, equities research analysts forecast that Tecnoglass will post 2.73 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.3%. Tecnoglass’s dividend payout ratio (DPR) is currently 18.58%.

Insider Buying and Selling at Tecnoglass

In other Tecnoglass news, major shareholder Holding Corp Energy purchased 80,879 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $40.56 per share, for a total transaction of $3,280,452.24. Following the acquisition, the insider owned 20,812,864 shares of the company’s stock, valued at $844,169,763.84. This trade represents a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in shares of Tecnoglass by 8.3% during the 1st quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock worth $224,000 after purchasing an additional 238 shares during the period. Blue Chip Partners LLC boosted its position in Tecnoglass by 6.3% in the fourth quarter. Blue Chip Partners LLC now owns 4,250 shares of the company’s stock valued at $214,000 after buying an additional 250 shares in the last quarter. First Horizon Corp boosted its position in Tecnoglass by 63.3% in the fourth quarter. First Horizon Corp now owns 673 shares of the company’s stock valued at $34,000 after buying an additional 261 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Tecnoglass by 2.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 12,459 shares of the company’s stock valued at $627,000 after buying an additional 295 shares in the last quarter. Finally, Arax Advisory Partners boosted its position in Tecnoglass by 128.4% in the fourth quarter. Arax Advisory Partners now owns 596 shares of the company’s stock valued at $30,000 after buying an additional 335 shares in the last quarter. 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.