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

Tecnoglass Inc. (NASDAQ:TGLS - Get Free Report) 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.

A number of other analysts have also issued reports on TGLS. Stifel Nicolaus lowered shares of Tecnoglass from a "buy" rating to a "hold" rating and dropped their price objective for the company from $48.00 to $45.00 in a research note on Wednesday, February 14th. B. Riley boosted their price objective on shares of Tecnoglass from $51.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, April 9th. Finally, DA Davidson reissued a "buy" rating and issued a $50.00 price objective on shares of Tecnoglass in a research report on Monday, March 4th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Thompson Siegel & Walmsley LLC acquired a new position in shares of Tecnoglass in the 3rd quarter worth approximately $26,000. Tower Research Capital LLC TRC acquired a new position in Tecnoglass in the third quarter worth $28,000. BNP Paribas Arbitrage SA bought a new stake in Tecnoglass during the first quarter valued at $29,000. BNP Paribas Arbitrage SNC acquired a new stake in shares of Tecnoglass during the third quarter worth $65,000. Finally, Castleview Partners LLC bought a new position in shares of Tecnoglass in the 1st quarter worth about $66,000. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Stock Performance

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

Tecnoglass (NASDAQ:TGLS - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.05. The firm 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%. As a group, equities analysts expect that Tecnoglass Inc. will post 3.7 EPS for the current year.

Tecnoglass Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.44 dividend on an annualized basis and a yield of 0.78%. This is a positive change from Tecnoglass's previous quarterly dividend of $0.09. Tecnoglass's payout ratio is currently 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.