Tecnoglass (NASDAQ:TGLS) Now Covered by Analysts at StockNews.com

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

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

Tecnoglass Price Performance

Shares of TGLS opened at $83.72 on Friday. Tecnoglass has a one year low of $40.49 and a one year high of $86.08. The stock’s fifty day moving average is $75.66 and its 200-day moving average is $62.67. 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 firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 26.16 and a beta of 1.89.

Tecnoglass (NASDAQ:TGLS) last released its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.97 by $0.11. The firm had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. Tecnoglass’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $0.98 EPS. Equities analysts anticipate that Tecnoglass will post 3.55 EPS for the current year.

Tecnoglass Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.72%. The ex-dividend date is Tuesday, December 31st. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s payout ratio is presently 13.75%.

Insider Buying and Selling at Tecnoglass

In related news, Director Julio A. Torres sold 30,520 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,693,771,043.76. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Trading of Tecnoglass

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in Tecnoglass by 29.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock worth $134,994,000 after buying an additional 447,647 shares in the last quarter. Ensign Peak Advisors Inc grew its stake in shares of Tecnoglass by 219.7% in the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after acquiring an additional 149,933 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of Tecnoglass by 8.7% during the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock worth $88,060,000 after purchasing an additional 140,112 shares during the period. Dimensional Fund Advisors LP increased its stake in Tecnoglass by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock valued at $44,385,000 after acquiring an additional 96,602 shares during the period. Finally, State Street Corp increased its position in shares of Tecnoglass by 29.1% during the third quarter. State Street Corp now owns 416,964 shares of the company’s stock valued at $28,674,000 after purchasing an additional 93,968 shares during the period. 37.35% of the stock is owned by hedge funds and other institutional investors.

About Tecnoglass

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.