StockNews.com Initiates Coverage on Tecnoglass (NASDAQ:TGLS)

Stock analysts at StockNews.com initiated coverage on shares of Tecnoglass (NASDAQ:TGLS) in a research report issued on Saturday. The brokerage set a “hold” rating on the stock.

A number of other brokerages also recently commented on TGLS. B. Riley restated a “neutral” rating and issued a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Robert W. Baird increased their price objective on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research report on Tuesday, October 22nd. Raymond James downgraded shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Finally, DA Davidson raised their price target on shares of Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $77.40.

Tecnoglass Price Performance

NASDAQ TGLS opened at $83.72 on Friday. The company has a 50 day simple moving average of $75.66 and a 200-day simple moving average of $62.61. Tecnoglass has a 52-week low of $40.49 and a 52-week high of $86.08. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 26.16 and a beta of 1.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63.

Tecnoglass (NASDAQ:TGLS) last released its earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.11. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The company had revenue of $237.90 million during the quarter, compared to the consensus estimate of $240.19 million. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. Equities research analysts predict that Tecnoglass will post 3.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Julio A. Torres sold 30,520 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total value of $104,573,402.40. Following the sale, the insider now owns 23,195,988 shares in the company, valued at approximately $1,693,771,043.76. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Tecnoglass

Several hedge funds and other institutional investors have recently modified their holdings of TGLS. Wellington Management Group LLP increased its position in shares of Tecnoglass by 29.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock worth $134,994,000 after purchasing an additional 447,647 shares in the last quarter. William Blair Investment Management LLC grew its stake in Tecnoglass by 8.7% during the second quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock worth $88,060,000 after buying an additional 140,112 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Tecnoglass by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after buying an additional 96,602 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Tecnoglass by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock worth $34,355,000 after acquiring an additional 22,700 shares in the last quarter. Finally, State Street Corp grew its position in Tecnoglass by 29.1% during the 3rd quarter. State Street Corp now owns 416,964 shares of the company’s stock worth $28,674,000 after acquiring an additional 93,968 shares during the last quarter. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Company Profile

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.