Tecnoglass Inc. (NYSE:TGLS) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Tecnoglass Inc. (NYSE:TGLS) have been given a consensus rating of “Hold” by the five ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $63.3333.

Several equities analysts recently weighed in on TGLS shares. DA Davidson cut their price objective on Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tecnoglass in a report on Friday, April 10th. B. Riley Financial cut their price target on Tecnoglass from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday, March 6th. Zacks Research cut Tecnoglass from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Finally, Robert W. Baird lowered their price objective on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st.

Tecnoglass Stock Performance

TGLS traded down $2.38 during trading on Friday, hitting $38.65. The stock had a trading volume of 332,339 shares, compared to its average volume of 348,641. The firm has a market cap of $1.71 billion, a PE ratio of 11.96, a P/E/G ratio of 0.68 and a beta of 1.42. Tecnoglass has a 12 month low of $37.52 and a 12 month high of $90.34. The company has a current ratio of 1.77, a quick ratio of 1.25 and a debt-to-equity ratio of 0.26. The company has a 50 day simple moving average of $43.10 and a 200-day simple moving average of $48.24.

Tecnoglass (NYSE:TGLS) last released its earnings results on Friday, May 8th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $249.01 million during the quarter, compared to analyst estimates of $243.00 million. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. Analysts expect that Tecnoglass will post 2.73 EPS for the current year.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, March 31st. Tecnoglass’s dividend payout ratio (DPR) is currently 18.58%.

Insider Activity

In related news, major shareholder Holding Corp Energy acquired 107,629 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $45.11 per share, with a total value of $4,855,144.19. Following the completion of the transaction, the insider owned 20,731,985 shares of the company’s stock, valued at approximately $935,219,843.35. This represents a 0.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Anne Louise Carricarte bought 1,100 shares of Tecnoglass stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average price of $43.27 per share, with a total value of $47,597.00. Following the purchase, the director owned 1,100 shares of the company’s stock, valued at $47,597. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 522,995 shares of company stock worth $22,912,205. Insiders own 0.06% of the company’s stock.

Institutional Trading of Tecnoglass

Institutional investors and hedge funds have recently modified their holdings of the company. Quantinno Capital Management LP raised its stake in shares of Tecnoglass by 30.9% in the first quarter. Quantinno Capital Management LP now owns 12,743 shares of the company’s stock valued at $568,000 after purchasing an additional 3,009 shares in the last quarter. SummitTX Capital L.P. acquired a new stake in Tecnoglass during the first quarter worth $496,000. Weiss Asset Management LP bought a new stake in Tecnoglass in the 1st quarter valued at $1,656,000. Entropy Technologies LP acquired a new position in shares of Tecnoglass in the 1st quarter valued at $242,000. Finally, Morningstar Investment Management LLC acquired a new position in shares of Tecnoglass in the 1st quarter worth approximately $419,000. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Company Profile

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.