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

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

A number of other brokerages have also commented on TGLS. Stifel Nicolaus lowered Tecnoglass from a “buy” rating to a “hold” rating and dropped their target price for the company from $48.00 to $45.00 in a research report on Wednesday, February 14th. B. Riley upped their target price on 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 reiterated a “buy” rating and issued a $50.00 target price on shares of Tecnoglass in a research report on Monday, March 4th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TGLS. JPMorgan Chase & Co. lifted its holdings in Tecnoglass by 39.5% in the first quarter. JPMorgan Chase & Co. now owns 25,671 shares of the company’s stock valued at $648,000 after acquiring an additional 7,269 shares during the period. BlackRock Inc. lifted its holdings in Tecnoglass by 107.4% in the first quarter. BlackRock Inc. now owns 994,989 shares of the company’s stock valued at $25,114,000 after acquiring an additional 515,151 shares during the period. Sei Investments Co. lifted its holdings in Tecnoglass by 45.1% in the first quarter. Sei Investments Co. now owns 265,750 shares of the company’s stock valued at $6,708,000 after acquiring an additional 82,567 shares during the period. Lazard Asset Management LLC lifted its holdings in Tecnoglass by 39.7% in the first quarter. Lazard Asset Management LLC now owns 28,909 shares of the company’s stock valued at $729,000 after acquiring an additional 8,212 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Tecnoglass by 11.8% in the first quarter. Renaissance Technologies LLC now owns 122,500 shares of the company’s stock valued at $3,092,000 after acquiring an additional 12,900 shares during the period. 37.35% of the stock is owned by institutional investors and hedge funds.

Tecnoglass Price Performance

The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 15.01 and a beta of 1.80. The stock has a fifty day simple moving average of $49.17 and a 200-day simple moving average of $42.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.27 and a quick ratio of 1.60.

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

Tecnoglass Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.77%. This is an increase from Tecnoglass’s previous quarterly dividend of $0.09. The ex-dividend date is Wednesday, March 27th. Tecnoglass’s dividend payout ratio is presently 11.43%.

About Tecnoglass

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.