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

Shares of Tecnoglass Inc. (NYSE:TGLS) have been given an average rating of “Hold” by the five ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $63.3333.

A number of brokerages recently weighed in on TGLS. B. Riley Financial dropped their price objective on Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Robert W. Baird reduced their target price on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. Zacks Research downgraded shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. DA Davidson reduced their target price on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Finally, Weiss Ratings downgraded shares of Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 20th.

Insider Buying and Selling

In other news, major shareholder Holding Corp Energy bought 107,629 shares of Tecnoglass stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $45.11 per share, for a total transaction of $4,855,144.19. Following the completion of the acquisition, the insider owned 20,731,985 shares of the company’s stock, valued at $935,219,843.35. This trade represents a 0.52% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have bought 315,229 shares of company stock valued at $13,777,727 in the last ninety days. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Tecnoglass

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Tecnoglass by 53.4% in the third quarter. JPMorgan Chase & Co. now owns 33,460 shares of the company’s stock valued at $2,239,000 after buying an additional 11,649 shares during the last quarter. American Century Companies Inc. raised its stake in Tecnoglass by 9.6% in the third quarter. American Century Companies Inc. now owns 1,022,101 shares of the company’s stock valued at $68,389,000 after buying an additional 89,175 shares during the last quarter. Citigroup Inc. raised its stake in Tecnoglass by 445.3% in the third quarter. Citigroup Inc. now owns 526,061 shares of the company’s stock valued at $35,199,000 after buying an additional 429,590 shares during the last quarter. Capital World Investors raised its stake in Tecnoglass by 6.2% in the third quarter. Capital World Investors now owns 1,794,272 shares of the company’s stock valued at $120,055,000 after buying an additional 104,132 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in Tecnoglass by 263.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 76,300 shares of the company’s stock valued at $3,839,000 after buying an additional 55,300 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Price Performance

Shares of TGLS stock opened at $43.66 on Wednesday. Tecnoglass has a twelve month low of $37.52 and a twelve month high of $89.66. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 0.70 and a beta of 1.42. The stock has a fifty day simple moving average of $42.84 and a two-hundred day simple moving average of $47.02. The company has a current ratio of 1.77, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26.

Tecnoglass (NYSE:TGLS) last issued its earnings results on Friday, May 8th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. Tecnoglass had a return on equity of 21.51% and a net margin of 14.77%.The business had revenue of $249.01 million during the quarter, compared to analysts’ expectations of $243.00 million. During the same period in the prior year, the business earned $0.92 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, analysts predict that Tecnoglass will post 2.73 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were issued a $0.15 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. Tecnoglass’s payout ratio is currently 13.93%.

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.