Tecnoglass Inc. (NASDAQ:TGLS) Given Average Recommendation of “Hold” by Brokerages

Tecnoglass Inc. (NASDAQ:TGLS) has been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $77.40.

TGLS has been the subject of several research reports. StockNews.com initiated coverage on Tecnoglass in a research report on Saturday, December 14th. They issued a “hold” rating for the company. DA Davidson lifted their price target on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. B. Riley reiterated a “neutral” rating and issued a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Robert W. Baird raised their price target 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, Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research report on Tuesday, October 22nd.

Insider Transactions at Tecnoglass

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total value of $104,573,402.40. Following the sale, the insider now directly owns 23,195,988 shares in the company, valued at $1,693,771,043.76. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Julio A. Torres sold 30,520 shares of the stock in a transaction dated Tuesday, November 12th. The shares were 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. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Tecnoglass

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in shares of Tecnoglass in the 2nd quarter worth about $3,929,000. Crossmark Global Holdings Inc. increased its holdings in shares of Tecnoglass by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after acquiring an additional 220 shares during the period. Rothschild Investment LLC bought a new stake in shares of Tecnoglass in the 2nd quarter valued at about $909,000. Rhumbline Advisers purchased a new stake in shares of Tecnoglass during the 2nd quarter valued at $1,468,000. Finally, X Square Capital LLC increased its holdings in shares of Tecnoglass by 5.7% during the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after acquiring an additional 237 shares in the last quarter. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Trading Down 0.7 %

NASDAQ:TGLS opened at $82.04 on Tuesday. The firm has a market capitalization of $3.86 billion, a P/E ratio of 25.64 and a beta of 1.89. 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 fifty day moving average of $77.01 and a 200 day moving average of $64.78. Tecnoglass has a 52 week low of $40.94 and a 52 week high of $86.08.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. The company had revenue of $237.90 million during 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 firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. On average, research analysts predict that Tecnoglass will post 3.55 earnings per share for the current year.

Tecnoglass Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.15 per share. This is an increase from Tecnoglass’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.73%. Tecnoglass’s payout ratio is presently 18.75%.

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.