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

Tecnoglass Inc. (NASDAQ:TGLS) has been given a consensus rating of “Buy” by the five research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $54.00.

A number of research analysts have issued reports on the company. Stifel Nicolaus lowered Tecnoglass from a “buy” rating to a “hold” rating and reduced their price target for the stock from $48.00 to $45.00 in a research report on Wednesday, February 14th. Robert W. Baird upped their price objective on shares of Tecnoglass from $56.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday. B. Riley increased their target price on shares of Tecnoglass from $51.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, DA Davidson restated a “buy” rating and set a $50.00 price target on shares of Tecnoglass in a research report on Monday, March 4th.

Institutional Investors Weigh In On Tecnoglass

Several hedge funds and other institutional investors have recently bought and sold shares of TGLS. Qube Research & Technologies Ltd boosted its position in shares of Tecnoglass by 82.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 183,119 shares of the company’s stock valued at $6,036,000 after purchasing an additional 82,833 shares in the last quarter. Wellington Management Group LLP lifted its stake in Tecnoglass by 21.6% during the third quarter. Wellington Management Group LLP now owns 398,917 shares of the company’s stock valued at $13,148,000 after purchasing an additional 70,900 shares during the last quarter. Impax Asset Management Group plc bought a new stake in Tecnoglass during the third quarter worth approximately $3,296,000. Seven Eight Capital LP grew its position in Tecnoglass by 207.6% in the third quarter. Seven Eight Capital LP now owns 37,663 shares of the company’s stock worth $1,241,000 after buying an additional 25,420 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Tecnoglass by 84.6% in the third quarter. American Century Companies Inc. now owns 2,105,685 shares of the company’s stock valued at $69,403,000 after buying an additional 965,316 shares in the last quarter. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Stock Performance

NASDAQ:TGLS traded down $0.18 during mid-day trading on Thursday, hitting $56.97. The stock had a trading volume of 135,480 shares, compared to its average volume of 348,060. The company has a current ratio of 2.27, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a 50 day simple moving average of $49.17 and a 200-day simple moving average of $42.46. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 14.82 and a beta of 1.80. Tecnoglass has a 52 week low of $28.21 and a 52 week high of $59.76.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. The company had revenue of $194.60 million for the quarter, compared to analysts’ expectations of $199.93 million. On average, research analysts expect that Tecnoglass will post 3.7 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a $0.11 dividend. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.44 annualized dividend and a dividend yield of 0.77%. Tecnoglass’s dividend payout ratio is 11.43%.

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.