Tecnoglass Inc. (NASDAQ:TGLS) Receives Consensus Rating of “Buy” from Brokerages

Shares of Tecnoglass Inc. (NASDAQ:TGLS) have received a consensus rating of “Buy” from the five research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $54.00.

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

Tecnoglass Stock Down 0.3 %

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

Tecnoglass (NASDAQ:TGLS) last released its earnings results on Thursday, February 29th. The company reported $0.80 earnings per share (EPS) 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 firm had revenue of $194.60 million during the quarter, compared to analyst estimates of $199.93 million. As a group, equities analysts forecast that Tecnoglass will post 3.7 EPS for the current year.

Tecnoglass Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.44 dividend on an annualized basis and a yield of 0.77%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.09. Tecnoglass’s dividend payout ratio (DPR) is presently 11.43%.

Institutional Investors Weigh In On Tecnoglass

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

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.