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

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

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

Tecnoglass Trading Down 1.1 %

Shares of NASDAQ:TGLS opened at $83.72 on Friday. The company has a market capitalization of $3.93 billion, a PE ratio of 26.16 and a beta of 1.89. Tecnoglass has a 12-month low of $40.49 and a 12-month high of $86.08. The business has a 50 day moving average of $75.66 and a two-hundred day moving average of $62.75. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, analysts forecast that Tecnoglass will post 3.55 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Tecnoglass

A number of institutional investors have recently modified their holdings of TGLS. Amalgamated Bank purchased a new stake in shares of Tecnoglass in the second quarter valued at $39,000. Signaturefd LLC boosted its stake in Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after buying an additional 663 shares during the last quarter. DGS Capital Management LLC purchased a new stake in Tecnoglass in the 3rd quarter valued at about $204,000. X Square Capital LLC increased its stake in shares of Tecnoglass by 5.7% during the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after acquiring an additional 237 shares during the last quarter. Finally, PFG Investments LLC purchased a new position in shares of Tecnoglass during the 2nd quarter worth about $220,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

About Tecnoglass

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.