Tecnoglass Inc. (NYSE:TGLS) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts give Tecnoglass a consensus rating of Hold from five firms (1 sell, 1 hold, 3 buy) with an average 12‑month target of $63.33, though several brokerages recently trimmed price targets.
• Insiders increased exposure: major shareholder Holding Corp Energy bought 107,629 shares at about $45.11 (~$4.86M) and a director bought 1,100 shares, with insiders purchasing 522,995 shares (~$22.9M) in the last quarter.
• Tecnoglass missed Q results with EPS $0.63 vs. $0.84 expected on $245.3M revenue, and the company announced a quarterly dividend of $0.15 (annualized $0.60, ~1.3% yield).

Shares of Tecnoglass Inc. (NYSE:TGLS - Get Free Report) have received an average rating of "Hold" from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $63.3333.

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

Insider Activity

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

Institutional Investors Weigh In On Tecnoglass

Hedge funds have recently made changes to their positions in the business. First Horizon Corp bought a new stake in shares of Tecnoglass during the 3rd quarter worth $28,000. Kemnay Advisory Services Inc. bought a new stake in Tecnoglass in the 4th quarter valued at about $28,000. Arax Advisory Partners raised its stake in Tecnoglass by 128.4% in the 4th quarter. Arax Advisory Partners now owns 596 shares of the company's stock valued at $30,000 after acquiring an additional 335 shares during the period. Federated Hermes Inc. raised its stake in Tecnoglass by 290.2% in the 3rd quarter. Federated Hermes Inc. now owns 597 shares of the company's stock valued at $40,000 after acquiring an additional 444 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in Tecnoglass by 223.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company's stock valued at $43,000 after acquiring an additional 440 shares during the period. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Stock Up 3.8%

TGLS stock opened at $45.80 on Tuesday. The stock has a market capitalization of $2.05 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 0.74 and a beta of 1.55. The company has a current ratio of 1.86, a quick ratio of 1.25 and a debt-to-equity ratio of 0.24. Tecnoglass has a 12 month low of $39.53 and a 12 month high of $90.34. The firm has a 50-day moving average price of $45.77 and a 200-day moving average price of $50.59.

Tecnoglass (NYSE:TGLS - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.21). The business had revenue of $245.30 million during the quarter. Tecnoglass had a net margin of 16.22% and a return on equity of 23.05%. Tecnoglass's revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 EPS. As a group, equities research analysts anticipate that Tecnoglass will post 2.72 EPS for the current fiscal year.

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a $0.15 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.3%. Tecnoglass's dividend payout ratio is currently 17.54%.

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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