Tecnoglass Inc. (NASDAQ:TGLS) Receives $54.00 Consensus Target Price from Brokerages

Tecnoglass Inc. (NASDAQ:TGLS - Get Free Report) has received an average recommendation of "Buy" from the five research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $54.00.

Several equities analysts recently commented on the company. Stifel Nicolaus lowered Tecnoglass from a "buy" rating to a "hold" rating and dropped their target price for the company from $48.00 to $45.00 in a research note on Wednesday, February 14th. DA Davidson reiterated a "buy" rating and issued a $50.00 target price on shares of Tecnoglass in a research note on Monday, March 4th. B. Riley upped their target price on Tecnoglass from $51.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, April 9th. Finally, Robert W. Baird upped their target price on Tecnoglass from $56.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday.

Institutional Investors Weigh In On Tecnoglass

Several institutional investors and hedge funds have recently added to or reduced their stakes in TGLS. Thompson Siegel & Walmsley LLC acquired a new stake in Tecnoglass during the third quarter worth about $26,000. Tower Research Capital LLC TRC acquired a new stake in shares of Tecnoglass in the third quarter valued at about $28,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Tecnoglass in the first quarter valued at about $29,000. BNP Paribas Arbitrage SNC acquired a new stake in shares of Tecnoglass in the third quarter valued at about $65,000. Finally, Castleview Partners LLC acquired a new stake in shares of Tecnoglass in the first quarter valued at about $66,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Tecnoglass Price Performance

Shares of NASDAQ:TGLS traded down $0.67 on Thursday, hitting $56.48. The company had a trading volume of 270,965 shares, compared to its average volume of 349,914. The company has a current ratio of 2.27, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30. Tecnoglass has a 52-week low of $28.21 and a 52-week high of $59.76. The business has a 50 day moving average of $49.33 and a 200 day moving average of $42.55. The company has a market cap of $2.65 billion, a PE ratio of 14.67 and a beta of 1.80.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.05. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. The business had revenue of $194.60 million for the quarter, compared to the consensus estimate of $199.93 million. As a group, equities analysts anticipate that Tecnoglass will post 3.7 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Tecnoglass's previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.78%. Tecnoglass's dividend payout ratio is currently 11.43%.

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.