Brokerages Set Tecnoglass Inc. (NASDAQ:TGLS) PT at $77.40

Tecnoglass Inc. (NASDAQ:TGLS) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $77.40.

A number of brokerages have weighed in on TGLS. StockNews.com initiated coverage on shares of Tecnoglass in a report on Thursday. They issued a “hold” rating for the company. B. Riley reissued a “neutral” rating and set a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. 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. Sidoti lowered Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a report on Tuesday, October 22nd. Finally, Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd.

Insider Activity

In other Tecnoglass news, Director Julio A. Torres sold 30,520 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the completion of the sale, the insider now owns 23,195,988 shares in the company, valued at $1,693,771,043.76. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% 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. Principal Financial Group Inc. bought a new stake in Tecnoglass in the 3rd quarter valued at approximately $2,211,000. Rhumbline Advisers acquired a new stake in shares of Tecnoglass in the second quarter valued at approximately $1,468,000. The Manufacturers Life Insurance Company bought a new stake in shares of Tecnoglass in the second quarter worth $589,000. GSA Capital Partners LLP boosted its holdings in Tecnoglass by 262.4% during the third quarter. GSA Capital Partners LLP now owns 20,089 shares of the company’s stock worth $1,379,000 after purchasing an additional 14,545 shares during the last quarter. Finally, Semanteon Capital Management LP bought a new position in Tecnoglass in the third quarter valued at $1,237,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Price Performance

NASDAQ TGLS opened at $81.05 on Friday. Tecnoglass has a fifty-two week low of $33.90 and a fifty-two week high of $82.68. The stock’s 50-day moving average is $72.77 and its two-hundred day moving average is $60.78. The firm has a market cap of $3.81 billion, a P/E ratio of 25.33 and a beta of 1.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. The company had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. On average, analysts anticipate that Tecnoglass will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a $0.11 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.54%. Tecnoglass’s payout ratio is 13.75%.

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.