StockNews.com Initiates Coverage on Tecnoglass (NASDAQ:TGLS)

Equities research analysts at StockNews.com initiated coverage on shares of Tecnoglass (NASDAQ:TGLS) in a note issued to investors on Thursday. The firm set a “hold” rating on the stock.

Several other brokerages also recently weighed in on TGLS. DA Davidson raised their target price on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. B. Riley restated a “neutral” rating and set a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Robert W. Baird raised their target price on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus raised their target price on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Stock Up 0.9 %

NASDAQ:TGLS traded up $0.72 during mid-day trading on Thursday, hitting $79.66. The company had a trading volume of 207,658 shares, compared to its average volume of 368,277. The business has a fifty day simple moving average of $72.31 and a 200-day simple moving average of $60.38. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. Tecnoglass has a 1 year low of $33.90 and a 1 year high of $82.68. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 24.89 and a beta of 1.86.

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

Insider Activity at Tecnoglass

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the completion of the transaction, the insider now directly owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction that occurred on 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 corporate insiders.

Hedge Funds Weigh In On Tecnoglass

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in shares of Tecnoglass by 29.5% during the third quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock valued at $134,994,000 after purchasing an additional 447,647 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Tecnoglass by 8.7% during the second quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after purchasing an additional 140,112 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Tecnoglass by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock valued at $44,385,000 after purchasing an additional 96,602 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Tecnoglass by 4.8% during the third quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock valued at $34,355,000 after purchasing an additional 22,700 shares during the last quarter. Finally, State Street Corp grew its holdings in Tecnoglass by 29.1% in the 3rd quarter. State Street Corp now owns 416,964 shares of the company’s stock worth $28,674,000 after buying an additional 93,968 shares in the last quarter. 37.35% of the stock is owned by 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.