Tecnoglass (NASDAQ:TGLS) Stock Price Down 4% – Time to Sell?

Tecnoglass Inc. (NASDAQ:TGLS) fell 4% during mid-day trading on Friday . The stock traded as low as $75.71 and last traded at $75.71. 85,591 shares traded hands during trading, a decline of 50% from the average session volume of 169,884 shares. The stock had previously closed at $78.89.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TGLS. Robert W. Baird increased their target price on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. DA Davidson increased their target price on Tecnoglass from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research report on Tuesday, October 22nd. B. Riley reaffirmed a “neutral” rating and set a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Finally, Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Tecnoglass presently has an average rating of “Hold” and a consensus target price of $77.40.

Tecnoglass Price Performance

The stock has a 50 day simple moving average of $77.71 and a two-hundred day simple moving average of $65.73. The firm has a market cap of $3.57 billion, a PE ratio of 23.73 and a beta of 1.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, beating 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 firm had revenue of $237.90 million during the quarter, compared to analyst estimates of $240.19 million. During the same quarter in the previous year, the business earned $0.98 EPS. Tecnoglass’s revenue for the quarter was up 13.1% compared to the same quarter last year. Sell-side analysts expect that Tecnoglass Inc. will post 3.55 earnings per share for the current year.

Tecnoglass Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.11. Tecnoglass’s payout ratio is currently 18.75%.

Insider Activity

In other Tecnoglass news, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’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 value of $104,573,402.40. Following the transaction, the insider now directly owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TGLS. Amalgamated Bank purchased a new stake in shares of Tecnoglass in the second quarter valued at about $39,000. Signaturefd LLC grew its stake in shares of Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after buying an additional 663 shares during the period. DGS Capital Management LLC acquired a new stake in shares of Tecnoglass during the 3rd quarter worth approximately $204,000. X Square Capital LLC raised its position in shares of Tecnoglass by 5.7% during the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after buying an additional 237 shares during the period. Finally, PFG Investments LLC acquired a new stake in Tecnoglass during the second quarter worth $220,000. Hedge funds and other 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.