Tecnoglass Inc. (NASDAQ:TGLS) Receives $53.83 Average Price Target from Brokerages

Tecnoglass Inc. (NASDAQ:TGLSGet Free Report) has received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $53.83.

Several research firms have weighed in on TGLS. DA Davidson restated a “buy” rating and issued a $50.00 price objective on shares of Tecnoglass in a research report on Monday, March 4th. Sidoti cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and raised their price objective for the company from $56.00 to $59.00 in a research report on Wednesday, May 1st. Robert W. Baird lowered their price objective on shares of Tecnoglass from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. 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.

Get Our Latest Report on TGLS

Tecnoglass Trading Down 2.7 %

Shares of TGLS stock opened at $45.26 on Friday. Tecnoglass has a 12-month low of $28.21 and a 12-month high of $59.76. The company has a market capitalization of $2.13 billion, a P/E ratio of 13.04 and a beta of 1.79. The firm has a 50-day moving average price of $53.70 and a 200 day moving average price of $47.95. 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:TGLSGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $192.09 million during the quarter, compared to analyst estimates of $191.04 million. Tecnoglass had a net margin of 19.97% and a return on equity of 31.85%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 EPS. Research analysts forecast that Tecnoglass will post 3.37 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.97%. The ex-dividend date is Friday, June 28th. Tecnoglass’s payout ratio is 12.68%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TGLS. Barclays PLC lifted its stake in Tecnoglass by 44.9% in the third quarter. Barclays PLC now owns 32,017 shares of the company’s stock valued at $1,055,000 after acquiring an additional 9,919 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Tecnoglass in the third quarter valued at $244,000. Neumeier Poma Investment Counsel LLC lifted its stake in Tecnoglass by 169.7% in the third quarter. Neumeier Poma Investment Counsel LLC now owns 420,310 shares of the company’s stock valued at $13,853,000 after acquiring an additional 264,475 shares during the last quarter. Navellier & Associates Inc. raised its position in shares of Tecnoglass by 12.7% in the third quarter. Navellier & Associates Inc. now owns 32,869 shares of the company’s stock valued at $1,083,000 after purchasing an additional 3,694 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Tecnoglass by 27.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the company’s stock valued at $96,000 after purchasing an additional 632 shares during the period. Institutional investors and hedge funds own 37.35% of the company’s stock.

About Tecnoglass

(Get Free Report

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.

Further Reading

Analyst Recommendations for Tecnoglass (NASDAQ:TGLS)

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