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

StockNews.com started coverage on shares of Tecnoglass (NASDAQ:TGLS) in a research note released on Thursday morning. The firm issued a hold rating on the stock.

Several other equities analysts also recently issued reports on TGLS. B. Riley reissued a “neutral” rating and set a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Stifel Nicolaus raised their price target on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Robert W. Baird upped their price objective 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. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a report on Tuesday, October 22nd. Finally, DA Davidson upped their price objective on Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.40.

Tecnoglass Price Performance

TGLS stock opened at $81.05 on Thursday. 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’s 50 day moving average price is $72.77 and its 200 day moving average price is $60.78. The firm has a market cap of $3.81 billion, a P/E ratio of 25.33 and a beta of 1.86. Tecnoglass has a 1 year low of $33.90 and a 1 year high of $82.68.

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

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is presently 13.75%.

Insider Buying and Selling at Tecnoglass

In other news, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass 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 sale, the insider now directly owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tecnoglass

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC grew its stake in Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after purchasing an additional 663 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Tecnoglass in the 2nd quarter valued at approximately $39,000. Wolverine Trading LLC acquired a new stake in shares of Tecnoglass during the 3rd quarter valued at approximately $225,000. X Square Capital LLC lifted its stake in Tecnoglass by 5.7% during the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after purchasing an additional 237 shares during the last quarter. Finally, PFG Investments LLC bought a new position in Tecnoglass during the second quarter worth $220,000. Institutional investors own 37.35% of the company’s stock.

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.