Analysts Set Tecnoglass Inc (NASDAQ:TGLS) Target Price at $10.00
Shares of Tecnoglass Inc (NASDAQ:TGLS) have been assigned a consensus rating of “Buy” from the nine brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $10.00.
TGLS has been the subject of several recent research reports. Zacks Investment Research lowered shares of Tecnoglass from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. DA Davidson initiated coverage on shares of Tecnoglass in a research report on Thursday, May 30th. They set a “buy” rating and a $9.00 target price for the company. Dougherty & Co restated a “buy” rating on shares of Tecnoglass in a research report on Thursday, August 22nd. BidaskClub downgraded shares of Tecnoglass from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Finally, Robert W. Baird set a $11.00 price target on shares of Tecnoglass and gave the company a “buy” rating in a report on Monday, August 12th.
A number of large investors have recently modified their holdings of TGLS. JPMorgan Chase & Co. purchased a new position in Tecnoglass during the second quarter valued at approximately $69,000. Northern Trust Corp lifted its holdings in Tecnoglass by 39.6% during the second quarter. Northern Trust Corp now owns 33,415 shares of the company’s stock valued at $217,000 after purchasing an additional 9,484 shares in the last quarter. First Manhattan Co. purchased a new position in Tecnoglass during the second quarter valued at approximately $243,000. Connors Investor Services Inc. purchased a new position in Tecnoglass during the second quarter valued at approximately $247,000. Finally, Shepherd Kaplan Krochuk LLC lifted its holdings in Tecnoglass by 90.0% during the second quarter. Shepherd Kaplan Krochuk LLC now owns 38,000 shares of the company’s stock valued at $247,000 after purchasing an additional 18,000 shares in the last quarter. 12.70% of the stock is currently owned by institutional investors and hedge funds.
Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Friday, August 9th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The company had revenue of $113.88 million during the quarter, compared to analyst estimates of $97.53 million. Tecnoglass had a net margin of 4.04% and a return on equity of 21.77%. On average, sell-side analysts expect that Tecnoglass will post 0.74 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 7.56%. The ex-dividend date was Tuesday, July 30th. Tecnoglass’s dividend payout ratio is currently 65.88%.
Tecnoglass Inc, through its subsidiaries, manufactures, supplies, and installs architectural glass, windows, and associated aluminum products for the commercial and residential construction industries in North, Central, and South America. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.
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