Tecnoglass (NYSE:TGLS) Reaches New 1-Year Low - Here's What Happened

Key Points

• Tecnoglass shares hit a new 52-week low, trading as low as $37.52 on Thursday before closing at $38.55, reflecting recent weakness in the stock.
• Analyst sentiment has softened, with Zacks Research cutting TGLS to “strong sell” and several firms lowering price targets, though the overall consensus remains Hold with an average target of $63.33.
• The company’s latest earnings beat expectations, reporting EPS of $0.78 versus $0.72 expected and revenue of $249.01 million, up 12% year over year, while insiders have also been buying shares recently.

Tecnoglass Inc. (NYSE:TGLS - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The company traded as low as $37.52 and last traded at $38.5510, with a volume of 333542 shares traded. The stock had previously closed at $38.02.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TGLS shares. Zacks Research cut Tecnoglass from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. B. Riley Financial lowered their target price on Tecnoglass from $70.00 to $65.00 and set a "buy" rating for the company in a report on Friday, March 6th. DA Davidson lowered their target price on Tecnoglass from $80.00 to $70.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Robert W. Baird lowered their target price on Tecnoglass from $62.00 to $55.00 and set an "outperform" rating for the company in a report on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tecnoglass in a report on Friday, April 10th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Tecnoglass presently has a consensus rating of "Hold" and an average price target of $63.33.

Tecnoglass Price Performance

The business has a 50-day simple moving average of $43.34 and a 200 day simple moving average of $48.44. The stock has a market cap of $1.71 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 0.63 and a beta of 1.42. 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 (NYSE:TGLS - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.06. Tecnoglass had a return on equity of 21.51% and a net margin of 14.77%.The firm had revenue of $249.01 million for the quarter, compared to analyst estimates of $243.00 million. During the same quarter in the previous year, the company posted $0.92 EPS. The business's revenue was up 12.0% on a year-over-year basis. On average, analysts forecast that Tecnoglass Inc. will post 2.73 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, March 31st were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.6%. Tecnoglass's dividend payout ratio is presently 18.58%.

Insider Activity

In other Tecnoglass news, major shareholder Holding Corp Energy bought 107,629 shares of the business's stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $45.11 per share, for a total transaction of $4,855,144.19. Following the transaction, the insider directly owned 20,731,985 shares in the company, valued at approximately $935,219,843.35. This trade represents a 0.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anne Louise Carricarte bought 1,100 shares of the business's stock in a transaction that occurred on 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 transaction, the director owned 1,100 shares in the company, valued at $47,597. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 522,995 shares of company stock worth $22,912,205. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tecnoglass

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors boosted its position in shares of Tecnoglass by 6.2% during the 3rd quarter. Capital World Investors now owns 1,794,272 shares of the company's stock valued at $120,055,000 after purchasing an additional 104,132 shares in the last quarter. Dimensional Fund Advisors LP boosted its position 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 purchasing an additional 161,955 shares in the last quarter. First Trust Advisors LP boosted its position in shares of 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 purchasing an additional 182,449 shares in the last quarter. American Century Companies Inc. boosted its holdings in Tecnoglass by 9.6% in the third quarter. American Century Companies Inc. now owns 1,022,101 shares of the company's stock worth $68,389,000 after acquiring an additional 89,175 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Tecnoglass by 2.2% in the third quarter. William Blair Investment Management LLC now owns 937,463 shares of the company's stock worth $62,726,000 after acquiring an additional 20,071 shares in the last quarter. Institutional investors own 37.35% of the company's stock.

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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