Tecnoglass Inc. (NASDAQ:TGLS) Given Average Rating of “Moderate Buy” by Analysts

Tecnoglass Inc. (NASDAQ:TGLS) has earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $64.17.

Several equities analysts recently issued reports on the stock. DA Davidson upped their price objective on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Stifel Nicolaus raised their price objective on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Robert W. Baird lifted their price objective on Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. Sidoti upgraded Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Wednesday, June 26th. Finally, B. Riley restated a “neutral” rating and issued a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th.

Hedge Funds Weigh In On Tecnoglass

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Tecnoglass in the third quarter valued at approximately $488,000. Sanctuary Advisors LLC purchased a new position in shares of Tecnoglass in the 2nd quarter valued at $1,964,000. The Manufacturers Life Insurance Company purchased a new position in shares of Tecnoglass in the 2nd quarter valued at $589,000. Dark Forest Capital Management LP lifted its holdings in shares of Tecnoglass by 28.6% during the 2nd quarter. Dark Forest Capital Management LP now owns 12,542 shares of the company’s stock valued at $629,000 after acquiring an additional 2,789 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in Tecnoglass by 219.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after purchasing an additional 149,933 shares during the period. 37.35% of the stock is owned by institutional investors and hedge funds.

Tecnoglass Stock Performance

Tecnoglass stock opened at $76.37 on Thursday. Tecnoglass has a fifty-two week low of $28.21 and a fifty-two week high of $77.85. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 22.01 and a beta of 1.86. The stock has a fifty day moving average of $64.05 and a two-hundred day moving average of $56.35. 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 (NASDAQ:TGLS) last announced its earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The firm had revenue of $219.65 million during the quarter, compared to the consensus estimate of $219.29 million. During the same quarter in the previous year, the company posted $1.12 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts anticipate that Tecnoglass will post 3.44 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, September 30th. This represents a $0.44 annualized dividend and a yield of 0.58%. Tecnoglass’s dividend payout ratio is presently 12.68%.

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.