Tecnoglass (NYSE:TGLS) Reaches New 52-Week Low - What's Next?

Key Points

• Tecnoglass (NYSE:TGLS) hit a new 52-week low on Friday, trading as low as $39.37 before closing below its previous close.
• Despite the weak share price, the company recently beat earnings and revenue estimates for the quarter, reporting $0.78 EPS on $249.01 million in revenue, with revenue up 12% year over year.
• Analysts remain mixed: the stock has a consensus Hold rating with an average price target of $63.33, though several firms have recently cut targets and one downgraded the stock to Strong Sell.

Shares of Tecnoglass Inc. (NYSE:TGLS - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $39.37 and last traded at $39.8450, with a volume of 335578 shares. The stock had previously closed at $42.44.

Analyst Upgrades and Downgrades

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

Tecnoglass Stock Performance

The stock has a market capitalization of $1.78 billion, a P/E ratio of 11.65, a P/E/G ratio of 0.74 and a beta of 1.42. The company has a quick ratio of 1.25, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average price of $43.96 and a 200-day moving average price of $49.03.

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, beating analysts' consensus estimates of $0.72 by $0.06. Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.The company had revenue of $249.01 million for the quarter, compared to the consensus estimate of $243.00 million. During the same quarter in the prior year, the company earned $0.92 earnings per share. Tecnoglass's revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts expect that Tecnoglass Inc. will post 2.72 EPS for the current year.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were given a $0.15 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.5%. Tecnoglass's dividend payout ratio is presently 17.54%.

Insider Transactions at Tecnoglass

In related news, major shareholder Holding Corp Energy purchased 107,629 shares of Tecnoglass stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $45.11 per share, for a total transaction of $4,855,144.19. Following the completion of the transaction, 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. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anne Louise Carricarte purchased 1,100 shares of Tecnoglass stock in a transaction on Friday, March 6th. The stock was bought at an average price of $43.27 per share, with a total value of $47,597.00. Following the transaction, the director owned 1,100 shares of the company's stock, valued at approximately $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 acquired 522,995 shares of company stock valued at $22,912,205. Company insiders own 0.06% of the company's stock.

Institutional Trading of Tecnoglass

A number of hedge funds and other institutional investors have recently bought and sold shares of TGLS. Citigroup Inc. raised its stake in Tecnoglass by 445.3% during the 3rd quarter. Citigroup Inc. now owns 526,061 shares of the company's stock valued at $35,199,000 after purchasing an additional 429,590 shares during the period. American Century Companies Inc. raised its stake in Tecnoglass by 9.6% during the 3rd quarter. American Century Companies Inc. now owns 1,022,101 shares of the company's stock valued at $68,389,000 after purchasing an additional 89,175 shares during the period. JPMorgan Chase & Co. raised its stake in Tecnoglass by 53.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,460 shares of the company's stock valued at $2,239,000 after purchasing an additional 11,649 shares during the period. Capital World Investors raised its stake in 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 during the period. Finally, First Trust Advisors LP raised its stake in Tecnoglass by 3.1% during the 3rd quarter. First Trust Advisors LP now owns 1,026,970 shares of the company's stock valued at $68,715,000 after purchasing an additional 30,834 shares during the period. Hedge funds and other institutional investors own 37.35% of the company's stock.

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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