Tecnoglass (NYSE:TGLS) Shares Gap Up – Time to Buy?

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 traded.

Analyst Ratings Changes

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

Tecnoglass Stock Up 1.5%

The company has a current ratio of 1.77, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The firm’s 50 day simple moving average is $42.97 and its two-hundred day simple moving average is $46.63. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.74 and a beta of 1.42.

Tecnoglass (NYSE:TGLS) last announced its earnings results on Friday, May 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Tecnoglass had a net margin of 14.77% and a return on equity of 21.51%. The firm had revenue of $249.01 million for the quarter, compared to analyst estimates of $243.00 million. During the same quarter in the prior year, the business posted $0.92 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. On average, equities analysts forecast that Tecnoglass Inc. will post 2.73 EPS for the current year.

Tecnoglass Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, June 30th. Tecnoglass’s payout ratio is 13.93%.

Insider Transactions at Tecnoglass

In related news, major shareholder Holding Corp Energy purchased 19,121 shares of Tecnoglass stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average price of $40.27 per share, with a total value of $770,002.67. Following the completion of the transaction, the insider directly owned 20,831,985 shares of the company’s stock, valued at $838,904,035.95. This represents a 0.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tecnoglass

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. acquired a new stake in shares of Tecnoglass during the 4th quarter worth $28,000. Arax Advisory Partners raised its stake in Tecnoglass by 128.4% in the fourth quarter. Arax Advisory Partners now owns 596 shares of the company’s stock valued at $30,000 after purchasing an additional 335 shares in the last quarter. First Horizon Corp raised its stake in Tecnoglass by 63.3% in the fourth quarter. First Horizon Corp now owns 673 shares of the company’s stock valued at $34,000 after purchasing an additional 261 shares in the last quarter. Parallel Advisors LLC raised its stake in Tecnoglass by 444.0% in the first quarter. Parallel Advisors LLC now owns 952 shares of the company’s stock valued at $42,000 after purchasing an additional 777 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Tecnoglass by 223.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock worth $43,000 after purchasing an additional 440 shares during the period. 37.35% of the stock is owned by institutional investors and hedge funds.

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.