Tecnoglass Inc. (NYSE:TGLS) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Tecnoglass has a consensus broker rating of "Hold" from five covering analysts, with an average 12-month price target of about $63.33.
• The company reported better-than-expected Q1 earnings, posting EPS of $0.78 versus $0.72 expected and revenue of $249.01 million, up 12% year over year.
• Shares fell 5.8% to $38.65, near the lower end of their 52-week range, even as insiders and institutional investors recently added to their holdings.

Shares of Tecnoglass Inc. (NYSE:TGLS - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $63.3333.

Several research analysts have weighed in on TGLS shares. Zacks Research lowered shares of Tecnoglass from a "hold" rating to a "strong sell" rating in a research note on Monday, March 2nd. Robert W. Baird lowered their price target on shares of Tecnoglass from $62.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tecnoglass in a research note on Friday, April 10th. B. Riley Financial cut their price objective on Tecnoglass from $70.00 to $65.00 and set a "buy" rating for the company in a report on Friday, March 6th. Finally, DA Davidson lowered their target price on Tecnoglass from $80.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday, March 2nd.

Insider Buying and Selling

In other Tecnoglass news, Director Anne Louise Carricarte purchased 1,100 shares of the company's stock in a transaction dated Friday, March 6th. The shares were bought at an average price of $43.27 per share, for a total transaction of $47,597.00. Following the purchase, the director directly owned 1,100 shares in the company, valued at $47,597. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Holding Corp Energy purchased 107,629 shares of the business's stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $45.11 per share, for a total transaction of $4,855,144.19. Following the acquisition, the insider directly owned 20,731,985 shares in the company, valued at $935,219,843.35. This represents a 0.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 522,995 shares of company stock worth $22,912,205 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tecnoglass

Hedge funds have recently bought and sold shares of the business. Citigroup Inc. lifted its position in shares of Tecnoglass by 445.3% in the third quarter. Citigroup Inc. now owns 526,061 shares of the company's stock worth $35,199,000 after buying an additional 429,590 shares during the last quarter. Fourth Sail Capital LP bought a new position in shares of Tecnoglass in the 4th quarter valued at approximately $17,461,000. Jane Street Group LLC lifted its holdings in Tecnoglass by 2,640.4% in the 2nd quarter. Jane Street Group LLC now owns 326,113 shares of the company's stock worth $25,228,000 after purchasing an additional 314,213 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Tecnoglass by 195.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 285,426 shares of the company's stock worth $14,363,000 after purchasing an additional 188,975 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Tecnoglass by 17.8% during the fourth quarter. First Trust Advisors LP now owns 1,209,419 shares of the company's stock worth $60,858,000 after purchasing an additional 182,449 shares during the period. 37.35% of the stock is owned by institutional investors and hedge funds.

Tecnoglass Stock Down 5.8%

NYSE TGLS traded down $2.38 during trading on Friday, reaching $38.65. 332,339 shares of the company's stock were exchanged, compared to its average volume of 348,641. The company has a current ratio of 1.77, a quick ratio of 1.25 and a debt-to-equity ratio of 0.26. Tecnoglass has a fifty-two week low of $37.52 and a fifty-two week high of $90.34. The company's fifty day simple moving average is $43.10 and its 200-day simple moving average is $48.24. The firm has a market capitalization of $1.71 billion, a PE ratio of 11.96, a P/E/G ratio of 0.68 and a beta of 1.42.

Tecnoglass (NYSE:TGLS - Get Free Report) last issued its earnings results on Friday, May 8th. The company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.06. The company 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 firm's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. Sell-side analysts predict that Tecnoglass will post 2.73 EPS for the current year.

Tecnoglass Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, March 31st were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.6%. Tecnoglass's payout ratio 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.

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