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

Shares of Tecnoglass Inc. (NASDAQ:TGLS) have been assigned a consensus rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $77.40.

A number of analysts recently issued reports on TGLS shares. Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. StockNews.com started coverage on Tecnoglass in a research report on Saturday, December 14th. They issued a “hold” rating for the company. B. Riley reissued a “neutral” rating and issued a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Sidoti cut 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. Finally, DA Davidson increased their price objective on Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th.

Insider Transactions at Tecnoglass

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Tecnoglass

A number of large investors have recently modified their holdings of the business. Principal Financial Group Inc. purchased a new position in Tecnoglass in the 3rd quarter valued at approximately $2,211,000. Tidal Investments LLC purchased a new position in Tecnoglass in the 3rd quarter valued at approximately $585,000. Rhumbline Advisers purchased a new position in Tecnoglass in the 2nd quarter valued at approximately $1,468,000. Barclays PLC increased its stake in Tecnoglass by 32.2% in the 3rd quarter. Barclays PLC now owns 35,376 shares of the company’s stock valued at $2,429,000 after purchasing an additional 8,613 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Tecnoglass in the 2nd quarter valued at approximately $589,000. 37.35% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Trading Down 1.8 %

TGLS opened at $84.57 on Friday. Tecnoglass has a one year low of $40.94 and a one year high of $86.99. The company has a market cap of $3.97 billion, a P/E ratio of 26.43 and a beta of 1.90. 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 business’s 50-day simple moving average is $80.34 and its 200-day simple moving average is $69.35.

Tecnoglass (NASDAQ:TGLS) last released 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. The business had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 EPS. As a group, equities research analysts expect that Tecnoglass will post 3.55 EPS for the current fiscal year.

Tecnoglass Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, December 31st. Tecnoglass’s dividend payout ratio is 18.75%.

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.