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

Research analysts at StockNews.com began coverage on shares of Tecnoglass (NASDAQ:TGLS – Get Rating) in a report issued on Thursday. The brokerage set a “buy” rating on the stock.

TGLS has been the topic of several other reports. Raymond James increased their price objective on shares of Tecnoglass from $35.00 to $42.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 28th. Robert W. Baird raised their price target on shares of Tecnoglass from $52.00 to $54.00 in a report on Friday, May 5th. B. Riley raised their price target on shares of Tecnoglass from $40.00 to $43.00 and gave the company a “buy” rating in a report on Monday, February 6th. Finally, DA Davidson raised their price target on shares of Tecnoglass from $48.00 to $53.00 in a report on Friday, May 5th.

Tecnoglass Price Performance

Shares of Tecnoglass stock opened at $43.65 on Thursday. Tecnoglass has a 1 year low of $16.05 and a 1 year high of $49.06. The company has a 50-day moving average of $42.35 and a 200 day moving average of $35.23. The company has a current ratio of 2.05, a quick ratio of 1.47 and a debt-to-equity ratio of 0.42.

Tecnoglass (NASDAQ:TGLS – Get Rating) last announced its quarterly earnings data on Thursday, March 2nd. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.99 by $0.10. Tecnoglass had a net margin of 23.34% and a return on equity of 54.65%. The company had revenue of $211.12 million for the quarter, compared to the consensus estimate of $204.16 million. As a group, analysts anticipate that Tecnoglass will post 4.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Tecnoglass news, major shareholder Holding Corp Energy acquired 519,412 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The shares were bought at an average price of $42.26 per share, with a total value of $21,950,351.12. Following the completion of the acquisition, the insider now owns 26,928,108 shares in the company, valued at approximately $1,137,981,844.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tecnoglass news, major shareholder Holding Corp Energy acquired 519,412 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The shares were bought at an average price of $42.26 per share, with a total value of $21,950,351.12. Following the completion of the acquisition, the insider now owns 26,928,108 shares in the company, valued at approximately $1,137,981,844.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jose M. Daes sold 275,810 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $42.26, for a total transaction of $11,655,730.60. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TGLS. JPMorgan Chase & Co. lifted its stake in shares of Tecnoglass by 39.5% during the 1st quarter. JPMorgan Chase & Co. now owns 25,671 shares of the company’s stock valued at $648,000 after buying an additional 7,269 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Tecnoglass by 107.4% during the 1st quarter. BlackRock Inc. now owns 994,989 shares of the company’s stock valued at $25,114,000 after buying an additional 515,151 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Tecnoglass by 45.1% during the 1st quarter. Sei Investments Co. now owns 265,750 shares of the company’s stock valued at $6,708,000 after buying an additional 82,567 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Tecnoglass by 39.7% during the 1st quarter. Lazard Asset Management LLC now owns 28,909 shares of the company’s stock valued at $729,000 after buying an additional 8,212 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Tecnoglass by 11.8% during the 1st quarter. Renaissance Technologies LLC now owns 122,500 shares of the company’s stock valued at $3,092,000 after buying an additional 12,900 shares in the last quarter. Hedge funds and other institutional investors own 23.64% of the company’s stock.

About Tecnoglass

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Tecnoglass, Inc is a holding company, which engages in the design, manufacturing, distribution, marketing, and installation of architectural glass, windows and associated aluminum products for the global commercial and residential construction market. It operates through the following geographical segments: Colombia, United States, Panama, and Other.