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

Shares of Tecnoglass Inc. (NYSE:TGLS) gapped up prior to trading on Friday . The stock had previously closed at $44.07, but opened at $45.26. Tecnoglass shares last traded at $44.7540, with a volume of 51,874 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Zacks Research raised Tecnoglass from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Weiss Ratings downgraded shares of Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th. DA Davidson lowered their price target on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Robert W. Baird cut their price target on shares of Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. Finally, B. Riley Financial decreased their price objective on shares of Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Tecnoglass presently has an average rating of “Moderate Buy” and a consensus target price of $63.33.

Tecnoglass Stock Up 3.0%

The company’s fifty day simple moving average is $42.95 and its 200 day simple moving average is $46.65. The company has a current ratio of 1.77, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.01 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 0.75 and a beta of 1.42.

Tecnoglass (NYSE:TGLS) last announced its earnings results on Friday, May 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. The firm had revenue of $249.01 million for the quarter, compared to analyst estimates of $243.00 million. During the same quarter in the previous year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts expect that Tecnoglass Inc. will post 2.73 EPS for the current year.

Tecnoglass Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Tecnoglass’s payout ratio is presently 18.58%.

Insider Buying and Selling at Tecnoglass

In other news, major shareholder Holding Corp Energy bought 80,879 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $40.56 per share, with a total value of $3,280,452.24. Following the transaction, the insider owned 20,812,864 shares of the company’s stock, valued at approximately $844,169,763.84. The trade was a 0.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Tecnoglass

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Tecnoglass by 53.4% during the third quarter. JPMorgan Chase & Co. now owns 33,460 shares of the company’s stock worth $2,239,000 after acquiring an additional 11,649 shares in the last quarter. Fourth Sail Capital LP bought a new position in shares of Tecnoglass during the fourth quarter valued at approximately $17,461,000. Capital World Investors lifted its holdings in shares of Tecnoglass by 6.2% during the third quarter. Capital World Investors now owns 1,794,272 shares of the company’s stock valued at $120,055,000 after purchasing an additional 104,132 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Tecnoglass by 9.6% during the third quarter. American Century Companies Inc. now owns 1,022,101 shares of the company’s stock valued at $68,389,000 after purchasing an additional 89,175 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of Tecnoglass by 263.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 76,300 shares of the company’s stock valued at $3,839,000 after purchasing an additional 55,300 shares during the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

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.