StockNews.com Initiates Coverage on Tecnoglass (NASDAQ:TGLS)

Analysts at StockNews.com began coverage on shares of Tecnoglass (NASDAQ:TGLS) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the stock.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus increased their price objective on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Raymond James downgraded shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. B. Riley reissued a “neutral” rating and set a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Robert W. Baird increased their price objective on shares of Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, DA Davidson lifted their target price on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research 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 currently has an average rating of “Hold” and a consensus target price of $77.40.

Tecnoglass Stock Performance

Shares of Tecnoglass stock opened at $81.05 on Thursday. Tecnoglass has a 1 year low of $33.90 and a 1 year high of $82.68. The firm’s 50-day moving average is $72.77 and its 200 day moving average is $60.71. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 25.33 and a beta of 1.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63.

Tecnoglass (NASDAQ:TGLS) last issued its earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Sell-side analysts anticipate that Tecnoglass will post 3.55 EPS for the current fiscal year.

Insider Transactions at Tecnoglass

In other news, 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 transaction, the insider now owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of Tecnoglass stock in a transaction dated Tuesday, November 12th. The shares were 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. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Tecnoglass

Several institutional investors and hedge funds have recently modified their holdings of TGLS. Tidal Investments LLC bought a new position in Tecnoglass in the 3rd quarter worth $585,000. Virtu Financial LLC purchased a new position in shares of Tecnoglass in the third quarter valued at about $422,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Tecnoglass in the third quarter worth about $1,409,000. Geode Capital Management LLC grew its position in shares of Tecnoglass by 4.8% during the third quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock worth $34,355,000 after purchasing an additional 22,700 shares in the last quarter. Finally, Barclays PLC raised its stake in Tecnoglass by 32.2% during 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 during the period. 37.35% of the stock is currently owned by 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.