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

Shares of Tecnoglass Inc. (NYSE:TGLS) gapped up before the market opened 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.

Analyst Upgrades and Downgrades

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

Tecnoglass Stock Up 3.0%

The stock has a market cap of $2.01 billion, a PE ratio of 14.05, a PEG ratio of 0.75 and a beta of 1.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.15. The company has a 50 day moving average price of $42.95 and a two-hundred day moving average price of $46.65.

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

Tecnoglass Announces Dividend

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

Insider Activity

In related news, major shareholder Holding Corp Energy purchased 19,121 shares of Tecnoglass stock in a transaction dated Friday, May 15th. The stock was purchased at an average cost of $40.27 per share, for a total transaction of $770,002.67. Following the completion of the purchase, the insider directly owned 20,831,985 shares of the company’s stock, valued at $838,904,035.95. The trade was a 0.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. purchased a new stake in Tecnoglass in the fourth quarter worth approximately $28,000. Arax Advisory Partners raised its stake in Tecnoglass by 128.4% during the 4th quarter. Arax Advisory Partners now owns 596 shares of the company’s stock valued at $30,000 after buying an additional 335 shares during the last quarter. First Horizon Corp lifted its holdings in shares of Tecnoglass by 63.3% during the 4th quarter. First Horizon Corp now owns 673 shares of the company’s stock valued at $34,000 after buying an additional 261 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Tecnoglass by 444.0% during the 1st quarter. Parallel Advisors LLC now owns 952 shares of the company’s stock valued at $42,000 after buying an additional 777 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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. 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.