Tecnoglass (NYSE:TGLS) Shares Gap Up – What’s Next?

Tecnoglass Inc. (NYSE:TGLS) shares gapped up prior to trading on Friday . The stock had previously closed at $47.94, but opened at $51.79. Tecnoglass shares last traded at $51.7950, with a volume of 16,172 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TGLS shares. DA Davidson cut their target price on shares of Tecnoglass from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Tecnoglass in a research report on Monday, December 22nd. Finally, Zacks Research cut Tecnoglass from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.00.

Tecnoglass Stock Performance

The company has a quick ratio of 1.40, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $50.51. The firm has a market capitalization of $2.45 billion, a PE ratio of 13.75, a P/E/G ratio of 0.53 and a beta of 1.71.

Tecnoglass (NYSE:TGLS) last posted its quarterly earnings results on Thursday, November 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.11). Tecnoglass had a return on equity of 26.64% and a net margin of 18.46%.During the same quarter last year, the firm earned $1.08 earnings per share. Tecnoglass’s revenue for the quarter was up 9.5% on a year-over-year basis.

Tecnoglass Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. Tecnoglass’s dividend payout ratio (DPR) is presently 15.58%.

Institutional Trading of Tecnoglass

Hedge funds have recently modified their holdings of the business. First Horizon Corp bought a new position in Tecnoglass during the third quarter valued at approximately $28,000. Federated Hermes Inc. grew its stake in shares of Tecnoglass by 290.2% in the 3rd quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock worth $40,000 after buying an additional 444 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Tecnoglass by 223.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock valued at $43,000 after buying an additional 440 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Tecnoglass by 314.6% during the second quarter. Farther Finance Advisors LLC now owns 796 shares of the company’s stock valued at $62,000 after buying an additional 604 shares during the period. Finally, Valley National Advisers Inc. bought a new position in shares of Tecnoglass in the second quarter worth about $120,000. Institutional investors own 37.35% of the company’s stock.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.