Tecnoglass (TGLS) Now Covered by Goldman Sachs Group

Goldman Sachs Group assumed coverage on shares of Tecnoglass (NASDAQ:TGLS) in a research report released on Thursday, Benzinga reports. The brokerage issued a buy rating on the stock.

TGLS has been the subject of several other research reports. Zacks Investment Research lowered Tecnoglass from a buy rating to a hold rating in a research note on Wednesday, January 30th. Raymond James started coverage on Tecnoglass in a research note on Wednesday, May 8th. They issued an outperform rating and a $6.98 target price for the company. BidaskClub raised Tecnoglass from a sell rating to a hold rating in a research note on Monday, February 25th. ValuEngine lowered Tecnoglass from a buy rating to a hold rating in a research note on Monday, February 4th. Finally, Robert W. Baird started coverage on Tecnoglass in a research note on Wednesday, April 10th. They issued an outperform rating and a $10.00 target price for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $10.45.

NASDAQ:TGLS opened at $7.03 on Thursday. The firm has a market cap of $267.41 million, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 0.46 and a beta of 1.27. Tecnoglass has a 52-week low of $6.90 and a 52-week high of $10.29. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.39 and a quick ratio of 1.64.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Tecnoglass had a return on equity of 23.12% and a net margin of 1.44%. The firm had revenue of $107.17 million during the quarter, compared to analyst estimates of $95.72 million. Equities research analysts anticipate that Tecnoglass will post 0.75 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 26th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, April 29th. This represents a $0.56 dividend on an annualized basis and a yield of 7.97%. Tecnoglass’s dividend payout ratio is presently 65.88%.

In related news, Director Martha L. Byorum sold 5,994 shares of the business’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $8.46, for a total transaction of $50,709.24. Following the transaction, the director now owns 79,764 shares in the company, valued at approximately $674,803.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of TGLS. Raymond James & Associates bought a new position in shares of Tecnoglass during the 1st quarter valued at $83,000. Pinnacle Associates Ltd. bought a new position in shares of Tecnoglass during the 1st quarter valued at $256,000. BlackRock Inc. lifted its holdings in shares of Tecnoglass by 8,803.0% during the 4th quarter. BlackRock Inc. now owns 53,863 shares of the company’s stock valued at $435,000 after buying an additional 53,258 shares during the period. National Investment Services Inc. WI bought a new position in shares of Tecnoglass during the 1st quarter valued at $443,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Tecnoglass during the 4th quarter valued at $687,000. Hedge funds and other institutional investors own 4.43% of the company’s stock.

Tecnoglass Company Profile

Tecnoglass Inc, through its subsidiaries, manufactures, supplies, and installs architectural glass, windows, and associated aluminum products for the commercial and residential construction industries in North, Central, and South America. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.

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Analyst Recommendations for Tecnoglass (NASDAQ:TGLS)

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