Tecnoglass (NASDAQ:TGLS) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Tecnoglass (NASDAQ:TGLS) in a research note issued to investors on Saturday. The firm issued a hold rating on the stock.

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

Tecnoglass Trading Up 1.0 %

Shares of TGLS opened at $84.56 on Friday. The stock’s fifty day simple moving average is $75.97 and its 200-day simple moving average is $62.98. Tecnoglass has a 12-month low of $40.94 and a 12-month high of $86.08. The firm has a market capitalization of $3.97 billion, a PE ratio of 26.43 and a beta of 1.89. 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 announced 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. The business had revenue of $237.90 million during the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. As a group, research analysts predict that Tecnoglass will post 3.55 earnings per share for the current year.

Tecnoglass Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.15 dividend. This is a positive change 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%. The ex-dividend date is Tuesday, December 31st. Tecnoglass’s dividend payout ratio is presently 13.75%.

Insider Transactions at Tecnoglass

In other Tecnoglass news, Director Julio A. Torres sold 30,520 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total transaction of $2,222,771.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the insider now owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. This represents a 5.81 % decrease in their position. 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

Several hedge funds and other institutional investors have recently modified their holdings of TGLS. Principal Financial Group Inc. purchased a new position in Tecnoglass in the third quarter worth $2,211,000. Rhumbline Advisers purchased a new position in Tecnoglass during the 2nd quarter valued at about $1,468,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Tecnoglass in the 2nd quarter worth approximately $589,000. GSA Capital Partners LLP raised its stake in Tecnoglass by 262.4% during the third quarter. GSA Capital Partners LLP now owns 20,089 shares of the company’s stock valued at $1,379,000 after buying an additional 14,545 shares during the last quarter. Finally, Semanteon Capital Management LP bought a new position in shares of Tecnoglass in the third quarter worth approximately $1,237,000. 37.35% of the stock is currently owned by institutional investors.

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.