Tecnoglass Inc. (NYSE:TGLS) Given Average Recommendation of “Moderate Buy” by Analysts

Tecnoglass Inc. (NYSE:TGLS) has been given an average recommendation of “Moderate Buy” by the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $63.3333.

A number of brokerages recently issued reports on TGLS. Zacks Research upgraded shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Robert W. Baird reduced their price objective on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Finally, Weiss Ratings cut shares of Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 20th.

Insider Buying and Selling

In other Tecnoglass news, major shareholder Holding Corp Energy bought 19,121 shares of the business’s stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $40.27 per share, for a total transaction of $770,002.67. Following the purchase, the insider owned 20,831,985 shares in the company, valued at approximately $838,904,035.95. This trade represents a 0.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Tecnoglass

Institutional investors have recently modified their holdings of the business. Fourth Sail Capital LP purchased a new position in Tecnoglass in the 4th quarter worth about $17,461,000. Jane Street Group LLC boosted its holdings in shares of Tecnoglass by 2,640.4% during the 2nd quarter. Jane Street Group LLC now owns 326,113 shares of the company’s stock valued at $25,228,000 after acquiring an additional 314,213 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Tecnoglass by 195.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 285,426 shares of the company’s stock worth $14,363,000 after acquiring an additional 188,975 shares during the period. First Trust Advisors LP raised its holdings in shares of Tecnoglass by 17.8% during the fourth quarter. First Trust Advisors LP now owns 1,209,419 shares of the company’s stock valued at $60,858,000 after purchasing an additional 182,449 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Tecnoglass by 15.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,243,496 shares of the company’s stock valued at $55,395,000 after purchasing an additional 161,955 shares during the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Stock Down 3.1%

NYSE:TGLS traded down $1.38 during trading hours on Thursday, reaching $43.51. 23,111 shares of the company traded hands, compared to its average volume of 367,324. The company has a current ratio of 1.77, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $44.37 and its two-hundred day moving average price is $45.58. Tecnoglass has a 1 year low of $37.52 and a 1 year high of $83.32. The stock has a market capitalization of $1.93 billion, a P/E ratio of 13.48 and a beta of 1.41.

Tecnoglass (NYSE:TGLS) last released its earnings results on Thursday, May 7th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Tecnoglass had a return on equity of 21.51% and a net margin of 14.77%.During the same period in the previous year, the company earned $0.92 EPS. The business’s revenue was up 12.0% on a year-over-year basis. Analysts predict that Tecnoglass will post 2.73 earnings per share for the current year.

Tecnoglass Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.4%. Tecnoglass’s dividend payout ratio (DPR) is 18.58%.

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.