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

Shares of Tecnoglass Inc. (NASDAQ:TGLS) have been given a consensus rating of “Hold” by the six research firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $77.40.

Several research firms have recently issued reports on TGLS. Raymond James downgraded shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research report on Tuesday, October 22nd. Robert W. Baird lifted their price objective on shares of Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. B. Riley reaffirmed a “neutral” rating and set a $72.00 price target (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Finally, DA Davidson lifted their price target on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th.

Insiders Place Their Bets

In other Tecnoglass news, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total value of $104,573,402.40. Following the completion of the transaction, the insider now directly owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Tecnoglass

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of Tecnoglass by 29.5% during the third quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock valued at $134,994,000 after acquiring an additional 447,647 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in shares of 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. William Blair Investment Management LLC increased its holdings in Tecnoglass by 8.7% in the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after purchasing an additional 140,112 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Tecnoglass by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock valued at $44,385,000 after purchasing an additional 96,602 shares during the period. Finally, State Street Corp lifted its stake in Tecnoglass by 29.1% during the third quarter. State Street Corp now owns 416,964 shares of the company’s stock worth $28,674,000 after purchasing an additional 93,968 shares in the last quarter. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Stock Up 1.1 %

Shares of Tecnoglass stock opened at $82.58 on Tuesday. Tecnoglass has a 52-week low of $40.94 and a 52-week high of $86.08. The firm’s 50 day moving average price is $76.82 and its 200-day moving average price is $64.40. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.88 billion, a P/E ratio of 25.81 and a beta of 1.90.

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

Tecnoglass Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Tuesday, December 31st. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s dividend payout ratio (DPR) is currently 18.75%.

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.