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

Tecnoglass Inc. (NYSE:TGLS) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $63.3333.

Several research analysts have issued reports on the company. Robert W. Baird dropped 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 cut shares of Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th. Finally, Zacks Research upgraded shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Tecnoglass

Several hedge funds and other institutional investors have recently modified their holdings of TGLS. Royal Bank of Canada lifted its position in Tecnoglass by 8.3% during the first quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock valued at $224,000 after purchasing an additional 238 shares in the last quarter. AQR Capital Management LLC increased its position in Tecnoglass by 25.8% in the first quarter. AQR Capital Management LLC now owns 3,505 shares of the company’s stock worth $251,000 after buying an additional 719 shares in the last quarter. Intech Investment Management LLC increased its position in Tecnoglass by 21.4% in the first quarter. Intech Investment Management LLC now owns 17,918 shares of the company’s stock worth $1,282,000 after buying an additional 3,161 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Tecnoglass by 23.9% in the second quarter. Legal & General Group Plc now owns 5,115 shares of the company’s stock worth $396,000 after buying an additional 987 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of Tecnoglass in the second quarter worth about $217,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Stock Up 3.0%

TGLS stock opened at $47.64 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.77. Tecnoglass has a 1 year low of $37.52 and a 1 year high of $83.32. The stock’s fifty day moving average price is $44.76 and its 200-day moving average price is $45.32.

Tecnoglass (NYSE:TGLS) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.78 EPS for the quarter, beating 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 quarter in the previous year, the firm earned $0.92 earnings per share. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts anticipate that Tecnoglass will post 2.73 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Tecnoglass’s dividend payout ratio is currently 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.