Tecnoglass Inc. (NYSE:TGLS) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Tecnoglass has a “Moderate Buy” consensus rating among five analysts, with three buys and two holds. The average 12-month price target is $63.33 versus a recent share price of $43.51.
• The company’s latest quarterly results exceeded expectations, reporting EPS of $0.78 versus the $0.72 consensus and 12% year-over-year revenue growth. Analysts expect full-year EPS of $2.73.
• A major shareholder purchased 80,879 shares worth about $3.28 million, while institutional investors—including Dimensional, Vanguard and State Street—also increased their positions. Tecnoglass additionally announced a quarterly dividend of $0.15 per share, yielding approximately 1.4%.

Tecnoglass Inc. (NYSE:TGLS - Get Free Report) has earned a consensus rating of "Moderate Buy" from the five brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $63.3333.

A number of equities research analysts have recently weighed in on the company. Robert W. Baird cut their price objective 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 lowered 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 report on Friday, June 12th.

Insider Activity

In related news, major shareholder Holding Corp Energy purchased 80,879 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $40.56 per share, with a total value of $3,280,452.24. Following the completion of the purchase, the insider directly owned 20,812,864 shares in the company, valued at approximately $844,169,763.84. This represents a 0.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tecnoglass

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Tecnoglass by 15.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,243,496 shares of the company's stock valued at $55,395,000 after buying an additional 161,955 shares in the last quarter. First Trust Advisors LP lifted its position in Tecnoglass by 17.8% during the 4th quarter. First Trust Advisors LP now owns 1,209,419 shares of the company's stock valued at $60,858,000 after acquiring an additional 182,449 shares during the period. Geode Capital Management LLC lifted its position in Tecnoglass by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 640,586 shares of the company's stock valued at $32,242,000 after acquiring an additional 35,317 shares during the period. Vanguard Group Inc. boosted its stake in Tecnoglass by 11.4% during the third quarter. Vanguard Group Inc. now owns 625,529 shares of the company's stock worth $41,854,000 after acquiring an additional 63,993 shares in the last quarter. Finally, State Street Corp boosted its stake in Tecnoglass by 9.6% during the fourth quarter. State Street Corp now owns 519,254 shares of the company's stock worth $26,207,000 after acquiring an additional 45,544 shares in the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Trading Down 3.1%

Shares of TGLS stock traded down $1.38 during mid-day trading on Thursday, reaching $43.51. The stock had a trading volume of 23,111 shares, compared to its average volume of 367,324. The firm has a market capitalization of $1.93 billion, a PE ratio of 13.48 and a beta of 1.41. The stock's 50-day moving average price is $44.37 and its two-hundred day moving average price is $45.58. The company has a current ratio of 1.77, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. Tecnoglass has a 52-week low of $37.52 and a 52-week high of $83.32.

Tecnoglass (NYSE:TGLS - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.78 earnings per share 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 company earned $0.92 earnings per share. The company's revenue for the quarter was up 12.0% on a year-over-year basis. Equities analysts expect that Tecnoglass will post 2.73 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. Tecnoglass's payout ratio is presently 18.58%.

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.

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