Tecnoglass Inc. (NASDAQ:TGLS) Given Average Rating of “Hold” by Brokerages

Tecnoglass Inc. (NASDAQ:TGLS) has been given a consensus rating of “Hold” by the six analysts that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $77.40.

A number of research firms have recently commented on TGLS. StockNews.com assumed coverage on shares of Tecnoglass in a research note on Saturday, December 14th. They set a “hold” rating for the company. Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a report on Tuesday, October 22nd. Raymond James lowered shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. DA Davidson increased their price objective on Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird boosted their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

Insider Activity

In related news, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’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 completion of the sale, the insider now directly owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. This represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was 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. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Tecnoglass

Large investors have recently modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in Tecnoglass during the 3rd quarter valued at approximately $2,211,000. Tidal Investments LLC purchased a new position in shares of Tecnoglass in the 3rd quarter valued at approximately $585,000. Rhumbline Advisers acquired a new position in shares of Tecnoglass in the second quarter valued at approximately $1,468,000. Barclays PLC raised its stake in shares of Tecnoglass by 32.2% during the third quarter. Barclays PLC now owns 35,376 shares of the company’s stock worth $2,429,000 after purchasing an additional 8,613 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Tecnoglass during the second quarter worth $589,000. 37.35% of the stock is owned by institutional investors and hedge funds.

Tecnoglass Stock Performance

Shares of TGLS stock opened at $82.04 on Tuesday. The stock has a market cap of $3.86 billion, a PE ratio of 25.64 and a beta of 1.89. Tecnoglass has a 52-week low of $40.94 and a 52-week high of $86.08. The business has a 50-day simple moving average of $77.01 and a 200-day simple moving average of $64.78. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.11. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The business had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. During the same quarter last year, the company earned $0.98 EPS. The business’s revenue was up 13.1% on a year-over-year basis. On average, equities analysts expect that Tecnoglass will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s dividend payout ratio (DPR) is currently 18.75%.

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.