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

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

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

Insider Activity at Tecnoglass

In other news, major shareholder Holding Corp Energy bought 80,879 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $40.56 per share, for a total transaction of $3,280,452.24. Following the completion of the purchase, the insider owned 20,812,864 shares in the company, valued at approximately $844,169,763.84. This trade represents a 0.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Kemnay Advisory Services Inc. acquired a new stake in shares of Tecnoglass during the 4th quarter worth about $28,000. Arax Advisory Partners increased its stake in Tecnoglass by 128.4% in the fourth quarter. Arax Advisory Partners now owns 596 shares of the company’s stock valued at $30,000 after purchasing an additional 335 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Tecnoglass by 223.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock worth $43,000 after purchasing an additional 440 shares in the last quarter. First Horizon Corp lifted its position in shares of Tecnoglass by 63.3% during 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 last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Tecnoglass in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Tecnoglass Price Performance

TGLS traded up $0.80 during mid-day trading on Friday, hitting $43.94. 165,461 shares of the stock were exchanged, compared to its average volume of 270,733. The firm’s fifty day moving average is $43.12 and its two-hundred day moving average is $46.14. Tecnoglass has a 1-year low of $37.52 and a 1-year high of $83.32. 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 (NYSE:TGLS) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. During the same quarter last year, the firm earned $0.92 EPS. Tecnoglass’s revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts expect that Tecnoglass will post 2.73 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, June 30th. Tecnoglass’s dividend payout ratio (DPR) is presently 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.