Brokerages Set Tecnoglass Inc. (NASDAQ:TGLS) PT at $77.40

Tecnoglass Inc. (NASDAQ:TGLS) has received an average recommendation of “Hold” from the six research firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $77.40.

Several equities analysts have weighed in on the company. StockNews.com assumed coverage on Tecnoglass in a research report on Saturday, December 14th. They set a “hold” rating for the company. Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Robert W. Baird raised their price objective on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a report on Tuesday, October 22nd. Finally, B. Riley restated a “neutral” rating and set a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th.

Insider Activity at Tecnoglass

In other Tecnoglass news, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total value of $104,573,402.40. Following the transaction, the insider now directly owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total value of $2,222,771.60. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new position in Tecnoglass in the fourth quarter valued at about $26,000. Amalgamated Bank purchased a new position in Tecnoglass in the second quarter valued at about $39,000. Signaturefd LLC raised its position in Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after purchasing an additional 663 shares during the period. R Squared Ltd purchased a new position in Tecnoglass in the fourth quarter valued at about $70,000. Finally, DGS Capital Management LLC purchased a new stake in shares of Tecnoglass during the third quarter worth about $204,000. 37.35% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Stock Performance

Tecnoglass stock opened at $84.57 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The stock has a fifty day moving average of $80.34 and a two-hundred day moving average of $69.35. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 26.43 and a beta of 1.90. Tecnoglass has a fifty-two week low of $40.94 and a fifty-two week high of $86.99.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.11. The company had revenue of $237.90 million during the quarter, compared to the consensus estimate of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. Tecnoglass’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. On average, analysts anticipate that Tecnoglass will post 3.55 EPS for the current fiscal year.

Tecnoglass Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.15 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a yield of 0.71%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s dividend payout ratio (DPR) is presently 18.75%.

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.