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

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

Several equities analysts have recently issued reports on the company. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a report on Tuesday, October 22nd. Robert W. Baird upped their price objective on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. StockNews.com began coverage on shares of Tecnoglass in a research note on Saturday, December 14th. They set a “hold” rating on the stock. B. Riley reissued a “neutral” rating and set a $72.00 price target (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Finally, DA Davidson lifted their price objective on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th.

Tecnoglass Trading Up 3.3 %

Tecnoglass stock opened at $83.98 on Friday. Tecnoglass has a 52 week low of $40.94 and a 52 week high of $86.08. The stock has a 50-day moving average price of $79.29 and a 200 day moving average price of $68.16. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 26.24 and a beta of 1.90.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating the consensus estimate 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 net margin of 17.82% and a return on equity of 27.71%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. Sell-side 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 given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost 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%. Tecnoglass’s dividend payout ratio is currently 18.75%.

Insider Activity

In related news, Director Julio A. Torres sold 30,520 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,693,771,043.76. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. USA Financial Formulas acquired a new stake in Tecnoglass during the fourth quarter worth about $26,000. Signaturefd LLC raised its position in Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after purchasing an additional 663 shares during the period. Amalgamated Bank acquired a new position in shares of Tecnoglass in the 2nd quarter valued at $39,000. DGS Capital Management LLC purchased a new position in shares of Tecnoglass during the 3rd quarter worth $204,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Tecnoglass during the 4th quarter worth about $243,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

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.