Tecnoglass (NASDAQ:TGLS) Coverage Initiated by Analysts at StockNews.com

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

A number of other brokerages have also recently commented on TGLS. 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 note on Thursday, October 10th. Sidoti lowered 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. Raymond James downgraded shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. 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 research report on Tuesday, November 12th. Finally, 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 report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Tecnoglass presently has an average rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Stock Down 1.1 %

Shares of NASDAQ:TGLS opened at $83.72 on Friday. The stock has a 50-day simple moving average of $75.66 and a 200-day simple moving average of $62.67. The stock has a market capitalization of $3.93 billion, a P/E ratio of 26.16 and a beta of 1.89. Tecnoglass has a 1 year low of $40.49 and a 1 year high of $86.08. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21.

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

Tecnoglass Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.15 dividend. 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 annualized dividend and a yield of 0.72%. Tecnoglass’s dividend payout ratio is currently 13.75%.

Insiders Place Their Bets

In related news, Director Julio A. Torres sold 30,520 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the completion of the transaction, the insider now directly owns 23,195,988 shares of the company’s stock, valued at approximately $1,693,771,043.76. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tecnoglass

Several institutional investors and hedge funds have recently bought and sold shares of TGLS. Principal Financial Group Inc. bought a new position in shares of Tecnoglass during the third quarter valued at approximately $2,211,000. Rhumbline Advisers bought a new position in Tecnoglass during the 2nd quarter worth $1,468,000. The Manufacturers Life Insurance Company acquired a new stake in Tecnoglass in the second quarter worth $589,000. GSA Capital Partners LLP lifted its stake in Tecnoglass by 262.4% in the third quarter. GSA Capital Partners LLP now owns 20,089 shares of the company’s stock valued at $1,379,000 after buying an additional 14,545 shares during the last quarter. Finally, Semanteon Capital Management LP acquired a new position in shares of Tecnoglass during the third quarter valued at $1,237,000. 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.