Tecnoglass (NASDAQ:TGLS) Earns Hold Rating from Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Tecnoglass (NASDAQ:TGLS) in a report released on Thursday. The firm set a “hold” rating on the stock.

Other equities research analysts also recently issued reports about the company. B. Riley restated a “neutral” rating and issued a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Stifel Nicolaus upped their target price on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Robert W. Baird upped their target price on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Tuesday, October 22nd. Finally, Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tecnoglass has an average rating of “Hold” and an average target price of $77.40.

Tecnoglass Stock Performance

TGLS stock traded up $0.72 on Thursday, reaching $79.66. The company’s stock had a trading volume of 207,658 shares, compared to its average volume of 368,277. Tecnoglass has a 52 week low of $33.90 and a 52 week high of $82.68. The company has a market capitalization of $3.74 billion, a P/E ratio of 24.89 and a beta of 1.86. The firm has a fifty day moving average of $72.31 and a two-hundred day moving average of $60.38. 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 for the quarter, topping analysts’ consensus estimates of $0.97 by $0.11. The firm had revenue of $237.90 million during the quarter, compared to the consensus estimate of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. As a group, analysts predict that Tecnoglass will post 3.55 EPS for the current fiscal year.

Insider Activity

In other Tecnoglass news, Director Julio A. Torres sold 30,520 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total transaction of $2,222,771.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the sale, the insider now directly owns 23,195,988 shares in the company, 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. Insiders own 0.25% of the company’s stock.

Institutional Trading of Tecnoglass

Several large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in shares of Tecnoglass in the third quarter worth $2,211,000. Rhumbline Advisers acquired a new position in shares of Tecnoglass in the second quarter worth $1,468,000. The Manufacturers Life Insurance Company acquired a new position in shares of Tecnoglass in the second quarter worth $589,000. GSA Capital Partners LLP increased its stake in shares of Tecnoglass by 262.4% in the third quarter. GSA Capital Partners LLP now owns 20,089 shares of the company’s stock worth $1,379,000 after acquiring an additional 14,545 shares during the last quarter. Finally, Semanteon Capital Management LP acquired a new position in shares of Tecnoglass in the third quarter worth $1,237,000. 37.35% of the stock is owned by institutional investors and hedge funds.

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.