Tecnoglass (NASDAQ:TGLS) Sets New 12-Month High – Here’s What Happened

Shares of Tecnoglass Inc. (NASDAQ:TGLS) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $84.59 and last traded at $84.33, with a volume of 9758 shares traded. The stock had previously closed at $81.64.

Wall Street Analysts Forecast Growth

TGLS has been the subject of a number of research analyst reports. StockNews.com started coverage on Tecnoglass in a research report on Friday, December 6th. They issued a “hold” rating for the company. DA Davidson boosted their price objective on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Raymond James downgraded shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Sidoti cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a report on Tuesday, October 22nd. Finally, Robert W. Baird upped their target price on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Stock Performance

The company’s 50-day simple moving average is $74.76 and its 200 day simple moving average is $62.10. The stock has a market cap of $3.95 billion, a P/E ratio of 25.57 and a beta of 1.89. 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 announced its quarterly earnings data 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. 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 business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. As a group, sell-side analysts expect that Tecnoglass Inc. will post 3.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tecnoglass 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 transaction of $2,222,771.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $104,573,402.40. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Tecnoglass

Several hedge funds have recently made changes to their positions in the stock. DGS Capital Management LLC bought a new position in Tecnoglass in the 3rd quarter worth about $204,000. Tidal Investments LLC bought a new position in shares of Tecnoglass in the third quarter valued at approximately $585,000. Virtu Financial LLC purchased a new position in Tecnoglass during the third quarter valued at approximately $422,000. Teachers Retirement System of The State of Kentucky purchased a new position in Tecnoglass during the third quarter valued at approximately $1,409,000. Finally, Geode Capital Management LLC increased its holdings in Tecnoglass by 4.8% during 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 during the period. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

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.