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

Tecnoglass Inc. (NASDAQ:TGLS) has been assigned an average rating of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $55.33.

Several research firms recently issued reports on TGLS. Robert W. Baird reduced their price target on shares of Tecnoglass from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 7th. Sidoti upgraded shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Wednesday, June 26th. Finally, B. Riley reiterated a “buy” rating and set a $60.00 price target (down previously from $65.00) on shares of Tecnoglass in a research report on Friday, May 10th.

Tecnoglass Stock Performance

Shares of NASDAQ:TGLS opened at $50.87 on Friday. The company’s 50 day moving average price is $50.08 and its two-hundred day moving average price is $50.00. Tecnoglass has a 12-month low of $28.21 and a 12-month high of $59.76. The firm has a market cap of $2.39 billion, a PE ratio of 14.66 and a beta of 1.85. The company has a quick ratio of 1.72, a current ratio of 2.33 and a debt-to-equity ratio of 0.27.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Thursday, May 9th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Tecnoglass had a return on equity of 31.85% and a net margin of 19.97%. The business had revenue of $192.09 million for the quarter, compared to analyst estimates of $191.04 million. During the same quarter in the previous year, the company earned $1.08 EPS. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities research analysts predict that Tecnoglass will post 3.37 earnings per share for the current year.

Tecnoglass Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a $0.11 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.44 dividend on an annualized basis and a yield of 0.86%. Tecnoglass’s dividend payout ratio is currently 12.68%.

Institutional Trading of Tecnoglass

A number of hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC boosted its position in Tecnoglass by 232.8% in the first quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock valued at $84,017,000 after buying an additional 1,129,603 shares in the last quarter. Cooke & Bieler LP boosted its position in Tecnoglass by 35.8% in the fourth quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock valued at $59,431,000 after buying an additional 342,451 shares in the last quarter. Polaris Capital Management LLC boosted its position in Tecnoglass by 0.6% in the first quarter. Polaris Capital Management LLC now owns 902,064 shares of the company’s stock valued at $46,934,000 after buying an additional 5,300 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Tecnoglass by 58.8% during the fourth quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock valued at $37,288,000 after acquiring an additional 302,163 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Tecnoglass by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 732,736 shares of the company’s stock valued at $33,495,000 after acquiring an additional 37,091 shares during the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

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.