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

StockNews.com assumed coverage on shares of Tecnoglass (NASDAQ:TGLS) in a research report released on Friday morning. The brokerage issued a hold rating on the stock.

TGLS has been the subject of a number of other research reports. Robert W. Baird upped their price objective on shares of Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. B. Riley restated a “neutral” rating and set a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Sidoti downgraded shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research note on Tuesday, October 22nd. Stifel Nicolaus raised their target price on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, DA Davidson increased 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Tecnoglass has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Stock Up 1.3 %

NASDAQ TGLS opened at $83.25 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $74.22 and its two-hundred day moving average is $61.73. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 26.02 and a beta of 1.89. Tecnoglass has a 1-year low of $37.88 and a 1-year high of $83.75.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.97 by $0.11. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The business had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. During the same period in the previous year, the business earned $0.98 EPS. Tecnoglass’s revenue was up 13.1% compared to the same quarter last year. Equities analysts forecast 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 on 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 accessible through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’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 $1,693,771,043.76. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Trading of Tecnoglass

A number of institutional investors have recently bought and sold shares of the company. Amalgamated Bank acquired a new position in shares of Tecnoglass during the second quarter valued at about $39,000. Signaturefd LLC raised its holdings in shares of Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after acquiring an additional 663 shares during the last quarter. X Square Capital LLC raised its holdings in shares of Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after acquiring an additional 237 shares during the last quarter. PFG Investments LLC acquired a new stake in shares of Tecnoglass in the 2nd quarter worth about $220,000. Finally, Wolverine Trading LLC acquired a new stake in shares of Tecnoglass in the 3rd quarter worth about $225,000. 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.