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

Tecnoglass Inc. (NYSE:TGLS) has been assigned an average recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $63.3333.

Several research firms have recently weighed in on TGLS. DA Davidson cut their target price on Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Robert W. Baird cut their target price on Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings downgraded Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 20th. B. Riley Financial cut their price objective on Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Finally, Zacks Research downgraded Tecnoglass from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd.

Insider Buying and Selling

In other Tecnoglass news, major shareholder Holding Corp Energy acquired 107,629 shares of the business’s stock in a transaction on Friday, March 13th. The shares were bought at an average price of $45.11 per share, with a total value of $4,855,144.19. Following the transaction, the insider directly owned 20,731,985 shares of the company’s stock, valued at $935,219,843.35. The trade was a 0.52% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders acquired 315,229 shares of company stock valued at $13,777,727. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Tecnoglass

Hedge funds have recently bought and sold shares of the business. Kemnay Advisory Services Inc. bought a new position in Tecnoglass in the 4th quarter valued at $28,000. Arax Advisory Partners grew 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 last quarter. Federated Hermes Inc. grew its position in Tecnoglass by 290.2% in the 3rd quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock valued at $40,000 after acquiring an additional 444 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Tecnoglass by 223.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock worth $43,000 after buying an additional 440 shares during the period. Finally, First Horizon Corp lifted its holdings in shares of Tecnoglass by 63.3% in the 4th quarter. First Horizon Corp now owns 673 shares of the company’s stock worth $34,000 after buying an additional 261 shares during the period. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Stock Performance

NYSE:TGLS opened at $43.66 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.15. Tecnoglass has a 1 year low of $37.52 and a 1 year high of $89.66. The stock’s 50 day simple moving average is $42.84 and its two-hundred day simple moving average is $47.02. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.70 and a beta of 1.42.

Tecnoglass (NYSE:TGLS) last released its quarterly earnings data on Friday, May 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $249.01 million for the quarter, compared to the consensus estimate of $243.00 million. Tecnoglass had a return on equity of 21.51% and a net margin of 14.77%.The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS. As a group, equities analysts anticipate that Tecnoglass will post 2.73 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, March 31st. Tecnoglass’s dividend payout ratio is 13.93%.

About Tecnoglass

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.