Tecnoglass Inc. (NASDAQ:TGLS) Given Average Rating of “Hold” by Analysts

Shares of Tecnoglass Inc. (NASDAQ:TGLS) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $77.40.

A number of brokerages have recently weighed in on TGLS. DA Davidson raised their price target on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird raised their price target on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. B. Riley restated a “neutral” rating and issued a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Finally, StockNews.com began coverage on Tecnoglass in a research report on Saturday, December 14th. They issued a “hold” rating for the company.

Tecnoglass Trading Up 0.1 %

NASDAQ:TGLS opened at $86.09 on Friday. The stock has a fifty day moving average price of $79.87 and a two-hundred day moving average price of $69.01. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 26.90 and a beta of 1.90. 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 has a 1 year low of $40.94 and a 1 year high of $86.99.

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 firm had revenue of $237.90 million during the quarter, compared to analysts’ expectations of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. Tecnoglass’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 earnings per share. As a group, sell-side analysts anticipate that Tecnoglass will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. 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 0.70%. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s dividend payout ratio (DPR) is presently 18.75%.

Insider Activity at Tecnoglass

In other Tecnoglass news, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was 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 can be accessed through this hyperlink. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Tecnoglass

Hedge funds and other institutional investors have recently modified their holdings of the company. USA Financial Formulas acquired a new position in shares of Tecnoglass in the 4th quarter valued at about $26,000. Amalgamated Bank purchased a new stake in shares of Tecnoglass during the 2nd quarter valued at about $39,000. Signaturefd LLC raised its holdings in shares of Tecnoglass by 4,735.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after buying an additional 663 shares during the period. DGS Capital Management LLC purchased a new stake in shares of Tecnoglass during the 3rd quarter valued at about $204,000. Finally, Wolverine Trading LLC purchased a new stake in shares of Tecnoglass during the 3rd quarter valued at about $225,000. 37.35% of the stock is owned by institutional investors and hedge funds.

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.