Tecnoglass Inc. (NASDAQ:TGLS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Tecnoglass Inc. (NASDAQ:TGLS) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $77.40.

A number of brokerages recently issued reports on TGLS. DA Davidson increased their target price on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. B. Riley reiterated a “neutral” rating and issued a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Sidoti lowered Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Tuesday, October 22nd. Robert W. Baird lifted their price objective on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, StockNews.com began coverage on Tecnoglass in a research note on Friday. They issued a “hold” rating on the stock.

Insider Activity

In related news, major shareholder Holding Corp Energy sold 1,432,120 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the completion of the sale, the insider now directly owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Tecnoglass

A number of hedge funds have recently modified their holdings of the business. Signaturefd LLC boosted its holdings in shares of Tecnoglass by 4,735.7% in the third 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. Amalgamated Bank acquired a new stake in shares of Tecnoglass in the second quarter valued at approximately $39,000. Wolverine Trading LLC bought a new stake in shares of Tecnoglass in the third quarter worth $225,000. X Square Capital LLC grew its position in Tecnoglass by 5.7% in the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after purchasing an additional 237 shares in the last quarter. Finally, PFG Investments LLC acquired a new stake in Tecnoglass in the 2nd quarter valued at $220,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Stock Up 0.6 %

NASDAQ TGLS opened at $82.18 on Friday. Tecnoglass has a 1-year low of $37.58 and a 1-year high of $83.75. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 25.68 and a beta of 1.89. The stock’s 50 day moving average is $73.93 and its two-hundred day moving average is $61.44. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. The firm had revenue of $237.90 million for 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%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. Equities analysts forecast that Tecnoglass will post 3.55 earnings per share for the current fiscal year.

Tecnoglass Company Profile

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.