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

Tecnoglass Inc. (NASDAQ:TGLS)’s stock 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.

Other analysts also recently issued reports about the stock. Stifel Nicolaus downgraded shares of Tecnoglass from a “buy” rating to a “hold” rating and cut their price objective for the company from $48.00 to $45.00 in a research report on Wednesday, February 14th. B. Riley lifted their price objective on shares of Tecnoglass from $51.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, DA Davidson reissued a “buy” rating and set a $50.00 target price on shares of Tecnoglass in a research note on Monday, March 4th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Hedge Funds Weigh In On Tecnoglass

Several large investors have recently bought and sold shares of the stock. American Century Companies Inc. grew its stake in shares of Tecnoglass by 84.6% in the 3rd quarter. American Century Companies Inc. now owns 2,105,685 shares of the company’s stock worth $69,403,000 after purchasing an additional 965,316 shares during the last quarter. Cooke & Bieler LP grew its stake in shares of Tecnoglass by 35.8% in the 4th quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock worth $59,431,000 after purchasing an additional 342,451 shares during the last quarter. BlackRock Inc. grew its stake in shares of Tecnoglass by 107.4% in the 1st quarter. BlackRock Inc. now owns 994,989 shares of the company’s stock worth $25,114,000 after purchasing an additional 515,151 shares during the last quarter. Millennium Management LLC grew its stake in shares of Tecnoglass by 36.4% in the 4th quarter. Millennium Management LLC now owns 830,894 shares of the company’s stock worth $25,567,000 after purchasing an additional 221,679 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Tecnoglass by 58.8% in the 4th quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock worth $37,288,000 after purchasing an additional 302,163 shares during the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Price Performance

The company’s 50 day moving average price is $49.33 and its 200-day moving average price is $42.55. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 14.67 and a beta of 1.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.60 and a current ratio of 2.27.

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

Tecnoglass Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a $0.11 dividend. This is an increase from Tecnoglass’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Wednesday, March 27th. Tecnoglass’s dividend payout ratio (DPR) is 11.43%.

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.