Zacks: Brokerages Set $12.50 Price Target for Tecnoglass Inc (TGLS)

Tecnoglass Inc (NASDAQ:TGLS) has been given an average broker rating score of 1.50 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and one has issued a strong buy rating on the company. Tecnoglass’ rating score has improved by 25% in the last three months as a result of a number of analysts’ ratings changes.

Brokers have set a 12 month consensus price objective of $12.50 for the company and are anticipating that the company will post $0.17 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Tecnoglass an industry rank of 114 out of 257 based on the ratings given to related companies.

TGLS has been the subject of several recent research reports. BidaskClub upgraded shares of Tecnoglass from a “sell” rating to a “hold” rating in a research report on Friday, July 13th. B. Riley upped their price target on shares of Tecnoglass from $11.50 to $12.50 and gave the company a “buy” rating in a research report on Monday, August 13th. ValuEngine upgraded shares of Tecnoglass from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. Zacks Investment Research upgraded shares of Tecnoglass from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Wednesday, August 15th. Finally, Dougherty & Co upgraded shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $12.50 price target for the company in a research report on Thursday, September 27th.

In other Tecnoglass news, Director Martha L. Byorum sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $9.44, for a total value of $75,520.00. Following the completion of the transaction, the director now directly owns 94,064 shares in the company, valued at approximately $887,964.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 67.20% of the company’s stock.

A hedge fund recently raised its stake in Tecnoglass stock. Rutabaga Capital Management LLC MA lifted its position in shares of Tecnoglass Inc (NASDAQ:TGLS) by 26.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 734,667 shares of the company’s stock after buying an additional 152,277 shares during the quarter. Rutabaga Capital Management LLC MA owned about 2.08% of Tecnoglass worth $6,384,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 4.07% of the company’s stock.

TGLS stock opened at $8.84 on Friday. The company has a market cap of $280.40 million, a P/E ratio of 27.63, a P/E/G ratio of 0.58 and a beta of 0.92. Tecnoglass has a 1 year low of $6.81 and a 1 year high of $10.29. The company has a quick ratio of 1.77, a current ratio of 2.50 and a debt-to-equity ratio of 1.53.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.07. Tecnoglass had a net margin of 4.34% and a return on equity of 14.63%. The business had revenue of $96.99 million during the quarter, compared to analysts’ expectations of $93.87 million. As a group, research analysts expect that Tecnoglass will post 0.66 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Friday, October 26th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 6.33%. The ex-dividend date is Thursday, October 25th. Tecnoglass’s dividend payout ratio (DPR) is currently 175.00%.

About Tecnoglass

Tecnoglass Inc, through its subsidiaries, manufactures and sells architectural glass, windows, and associated aluminum products for the global commercial and residential construction industries in North, Central, and South America. It offers soft coat, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass.

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