Tecnoglass Inc. (NASDAQ:TGLS) Given Consensus Rating of “Buy” by Brokerages

Tecnoglass Inc. (NASDAQ:TGLS) has received a consensus recommendation of “Buy” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating 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.

TGLS has been the topic of a number of recent research reports. B. Riley boosted their target price on shares of Tecnoglass from $51.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Stifel Nicolaus lowered shares of Tecnoglass from a “buy” rating to a “hold” rating and dropped their price target for the stock from $48.00 to $45.00 in a research note on Wednesday, February 14th. Robert W. Baird lifted their price target on shares of Tecnoglass from $56.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Finally, DA Davidson restated a “buy” rating and issued a $50.00 price target on shares of Tecnoglass in a research note on Monday, March 4th.

Hedge Funds Weigh In On Tecnoglass

Several hedge funds and other institutional investors have recently modified their holdings of TGLS. American Century Companies Inc. boosted its holdings in shares of Tecnoglass by 84.6% during 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. Owls Nest Partners IA LLC boosted its holdings in shares of Tecnoglass by 200.1% during the fourth quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock valued at $26,410,000 after acquiring an additional 385,265 shares during the period. Cooke & Bieler LP boosted its holdings in shares of Tecnoglass by 35.8% during the fourth quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock valued at $59,431,000 after acquiring an additional 342,451 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Tecnoglass by 58.8% during the fourth quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock valued at $37,288,000 after acquiring an additional 302,163 shares during the period. Finally, Clearbridge Investments LLC acquired a new position in shares of Tecnoglass during the third quarter valued at $9,837,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Trading Down 0.1 %

NASDAQ TGLS opened at $55.90 on Thursday. The company’s fifty day simple moving average is $49.74 and its 200-day simple moving average is $43.15. Tecnoglass has a 52 week low of $28.21 and a 52 week high of $59.76. 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 stock has a market cap of $2.63 billion, a P/E ratio of 14.52 and a beta of 1.80.

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

Tecnoglass Increases Dividend

The firm also recently announced 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. 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 yield of 0.79%. Tecnoglass’s payout ratio is presently 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.