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

Equities researchers at StockNews.com initiated coverage on shares of Tecnoglass (NASDAQ:TGLS) in a report released on Friday. The firm set a “hold” rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. B. Riley restated a “neutral” rating and set a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Tuesday, October 22nd. DA Davidson upped their price objective on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Stifel Nicolaus raised their target price on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $77.40.

Tecnoglass Price Performance

TGLS stock opened at $82.18 on Friday. Tecnoglass has a 1 year low of $37.58 and a 1 year high of $83.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The firm has a market capitalization of $3.86 billion, a PE ratio of 25.68 and a beta of 1.89. The business has a 50 day simple moving average of $73.93 and a 200-day simple moving average of $61.44.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data 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. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The company had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. During the same quarter in the previous year, the company posted $0.98 earnings per share. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities research analysts anticipate that Tecnoglass will post 3.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Tecnoglass

In related news, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the sale, the insider now directly owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. This represents a 5.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $2,222,771.60. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of Tecnoglass

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in Tecnoglass by 29.5% in the third quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock valued at $134,994,000 after purchasing an additional 447,647 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Tecnoglass by 8.7% in the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after buying an additional 140,112 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Tecnoglass by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after buying an additional 96,602 shares in the last quarter. 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 buying an additional 22,700 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Tecnoglass by 29.1% during the third quarter. State Street Corp now owns 416,964 shares of the company’s stock worth $28,674,000 after buying an additional 93,968 shares during the period. Hedge funds and other institutional investors own 37.35% of the company’s stock.

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.