Tecnoglass Inc. (NYSE:TGLS) Receives Average Rating of “Moderate Buy” from Brokerages

Tecnoglass Inc. (NYSE:TGLS) has received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $63.3333.

TGLS has been the subject of several research analyst reports. Zacks Research upgraded shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Robert W. Baird reduced their target price on Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. Finally, Weiss Ratings lowered Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th.

Tecnoglass Price Performance

Tecnoglass stock traded up $0.08 during trading hours on Friday, reaching $45.70. 215,504 shares of the stock were exchanged, compared to its average volume of 277,296. The company has a current ratio of 1.77, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. Tecnoglass has a twelve month low of $37.52 and a twelve month high of $83.32. The company has a market cap of $2.03 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 0.76 and a beta of 1.41. The stock has a 50 day moving average of $43.13 and a two-hundred day moving average of $46.42.

Tecnoglass (NYSE:TGLS) last issued its earnings results on Friday, May 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. The company had revenue of $249.01 million during the quarter, compared to analysts’ expectations of $243.00 million. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 EPS. Equities analysts expect that Tecnoglass will post 2.73 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 1.3%. Tecnoglass’s dividend payout ratio (DPR) is 18.58%.

Insider Transactions at Tecnoglass

In other Tecnoglass news, major shareholder Holding Corp Energy bought 80,879 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $40.56 per share, for a total transaction of $3,280,452.24. Following the completion of the transaction, the insider directly owned 20,812,864 shares in the company, valued at approximately $844,169,763.84. The trade was a 0.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Tecnoglass

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new position in Tecnoglass in the 4th quarter valued at approximately $28,000. Arax Advisory Partners increased its position in Tecnoglass by 128.4% in the 4th quarter. Arax Advisory Partners now owns 596 shares of the company’s stock valued at $30,000 after acquiring an additional 335 shares during the period. First Horizon Corp increased its position in Tecnoglass by 63.3% in the 4th quarter. First Horizon Corp now owns 673 shares of the company’s stock valued at $34,000 after acquiring an additional 261 shares during the period. Parallel Advisors LLC raised its stake in shares of Tecnoglass by 444.0% during the first quarter. Parallel Advisors LLC now owns 952 shares of the company’s stock valued at $42,000 after acquiring an additional 777 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Tecnoglass by 223.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock valued at $43,000 after acquiring an additional 440 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Company Profile

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.