Tecnoglass (NASDAQ:TGLS) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Tecnoglass (NASDAQ:TGLS) in a research report report published on Saturday. The firm issued a hold rating on the stock.

A number of other equities analysts also recently issued reports on TGLS. B. Riley reiterated a “neutral” rating and set a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Sidoti cut shares of 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. Robert W. Baird raised their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Raymond James lowered shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Finally, DA Davidson boosted their price target on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Tecnoglass presently has an average rating of “Hold” and a consensus target price of $77.40.

Tecnoglass Stock Up 1.0 %

Shares of TGLS opened at $84.56 on Friday. The business’s 50 day moving average is $75.97 and its 200 day moving average is $62.98. 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 12-month low of $40.94 and a 12-month high of $86.08. The company has a market capitalization of $3.97 billion, a PE ratio of 26.43 and a beta of 1.89.

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

Tecnoglass Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.15 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. This represents a $0.60 dividend on an annualized basis and a yield of 0.71%. Tecnoglass’s payout ratio is presently 13.75%.

Insider Activity at Tecnoglass

In related news, major shareholder Holding Corp Energy sold 1,432,120 shares of the stock in a transaction on 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 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 position. 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 Tecnoglass stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tecnoglass

Institutional investors and hedge funds have recently bought and sold shares of the business. DGS Capital Management LLC purchased a new position in Tecnoglass in the 3rd quarter worth approximately $204,000. Tidal Investments LLC purchased a new position in Tecnoglass during the third quarter worth approximately $585,000. Virtu Financial LLC acquired a new position in Tecnoglass during the third quarter worth $422,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Tecnoglass in the 3rd quarter worth $1,409,000. Finally, Geode Capital Management LLC raised its holdings in shares of Tecnoglass by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock worth $34,355,000 after acquiring an additional 22,700 shares during the period. 37.35% of the stock is currently owned by institutional investors and hedge funds.

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.