Tecnoglass (NASDAQ:TGLS) Shares Gap Up on Analyst Upgrade

Tecnoglass Inc. (NASDAQ:TGLS)’s share price gapped up prior to trading on Thursday after Robert W. Baird raised their price target on the stock from $56.00 to $65.00. The stock had previously closed at $57.15, but opened at $59.08. Robert W. Baird currently has an outperform rating on the stock. Tecnoglass shares last traded at $57.88, with a volume of 11,621 shares changing hands.

Several other analysts also recently weighed in on the stock. B. Riley lifted their target price on shares of Tecnoglass from $51.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Stifel Nicolaus downgraded shares of Tecnoglass from a “buy” rating to a “hold” rating and dropped their price target for the stock from $48.00 to $45.00 in a research note on Wednesday, February 14th. Finally, DA Davidson restated a “buy” rating and issued a $50.00 price target on shares of Tecnoglass in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tecnoglass currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently bought and sold shares of TGLS. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Tecnoglass in the fourth quarter valued at about $791,000. Vanguard Group Inc. increased its stake in shares of Tecnoglass by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 313,319 shares of the company’s stock worth $14,322,000 after acquiring an additional 17,879 shares during the period. Wellington Management Group LLP increased its stake in shares of Tecnoglass by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock worth $19,248,000 after acquiring an additional 22,169 shares during the period. Virtu Financial LLC acquired a new position in shares of Tecnoglass during the fourth quarter worth about $274,000. Finally, Owls Nest Partners IA LLC increased its stake in shares of Tecnoglass by 200.1% during the fourth quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock worth $26,410,000 after acquiring an additional 385,265 shares during the period. 37.35% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Trading Down 3.2 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 2.27 and a quick ratio of 1.60. The business’s 50 day moving average price is $49.45 and its 200-day moving average price is $42.71. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 14.21 and a beta of 1.80.

Tecnoglass (NASDAQ:TGLS) last issued its earnings results on Thursday, February 29th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.05. Tecnoglass had a net margin of 21.95% and a return on equity of 38.92%. The company had revenue of $194.60 million for the quarter, compared to analyst estimates of $199.93 million. Equities analysts forecast that Tecnoglass Inc. will post 3.7 EPS for the current fiscal year.

Tecnoglass Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.11 per share. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.80%. The ex-dividend date is Wednesday, March 27th. Tecnoglass’s dividend payout ratio is presently 11.43%.

About Tecnoglass

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.