Tecnoglass (NASDAQ:TGLS) Shares Gap Down to $34.30

Tecnoglass Inc. (NASDAQ:TGLS)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $34.30, but opened at $33.27. Tecnoglass shares last traded at $33.81, with a volume of 122,893 shares.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Raymond James lowered their target price on Tecnoglass from $52.00 to $45.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 7th. StockNews.com assumed coverage on Tecnoglass in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus lowered their target price on Tecnoglass from $57.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, November 7th.

Tecnoglass Price Performance

The stock has a 50 day moving average of $33.42 and a two-hundred day moving average of $40.21. The stock has a market cap of $1.62 billion, a PE ratio of 8.04 and a beta of 1.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 2.25.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The firm had revenue of $210.30 million for the quarter, compared to analysts’ expectations of $206.25 million. Tecnoglass had a return on equity of 46.61% and a net margin of 23.71%. Tecnoglass’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. Equities analysts anticipate that Tecnoglass Inc. will post 3.93 EPS for the current year.

Tecnoglass Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.05%. Tecnoglass’s payout ratio is presently 8.49%.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in Tecnoglass by 2.9% during the 1st quarter. Bank of New York Mellon Corp now owns 9,669 shares of the company’s stock worth $406,000 after acquiring an additional 273 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Tecnoglass by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 102,587 shares of the company’s stock worth $4,305,000 after acquiring an additional 281 shares during the period. Tower Research Capital LLC TRC boosted its position in Tecnoglass by 269.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 651 shares of the company’s stock worth $34,000 after acquiring an additional 475 shares during the period. JPMorgan Chase & Co. boosted its position in Tecnoglass by 1.0% during the 1st quarter. JPMorgan Chase & Co. now owns 50,094 shares of the company’s stock worth $2,102,000 after acquiring an additional 514 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Tecnoglass by 7.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 9,126 shares of the company’s stock worth $301,000 after acquiring an additional 622 shares during the period. 23.64% of the stock is currently owned by institutional investors and hedge funds.

Tecnoglass Company Profile

Tecnoglass Inc, through its subsidiaries, designs, produces, markets, and installs architectural systems for the commercial and residential construction industries in Colombia, the United States, Panama, and internationally. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.