Tecnoglass (NASDAQ:TGLS) Stock Price Up 2.8%

Tecnoglass Inc. (NASDAQ:TGLS)’s stock price shot up 2.8% during trading on Monday . The company traded as high as $59.62 and last traded at $59.28. 386,931 shares changed hands during trading, an increase of 12% from the average session volume of 344,591 shares. The stock had previously closed at $57.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TGLS shares. Stifel Nicolaus cut shares of Tecnoglass from a “buy” rating to a “hold” rating and lowered their price objective for the company from $48.00 to $45.00 in a research report on Wednesday, February 14th. B. Riley raised their price target on shares of Tecnoglass from $51.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, DA Davidson reaffirmed a “buy” rating and set a $50.00 price objective on shares of Tecnoglass in a report on Monday, March 4th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.80.

Tecnoglass Stock Down 0.4 %

The firm’s 50 day moving average price is $48.99 and its 200-day moving average price is $42.35. 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 company has a market cap of $2.71 billion, a P/E ratio of 14.97 and a beta of 1.80.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. Tecnoglass had a net margin of 21.95% and a return on equity of 38.92%. The firm had revenue of $194.60 million for the quarter, compared to analysts’ expectations of $199.93 million. As a group, equities research analysts expect that Tecnoglass Inc. will post 3.7 EPS for the current year.

Tecnoglass Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued 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 0.76%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.09. Tecnoglass’s dividend payout ratio (DPR) is 11.43%.

Institutional Trading of Tecnoglass

Several hedge funds have recently added to or reduced their stakes in TGLS. Tower Research Capital LLC TRC increased its holdings 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 purchasing an additional 475 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Tecnoglass during the third quarter worth about $26,000. BNP Paribas Arbitrage SA bought a new position in shares of Tecnoglass during the first quarter worth about $29,000. Castleview Partners LLC acquired a new stake in Tecnoglass in the 1st quarter valued at approximately $66,000. Finally, Citigroup Inc. bought a new stake in Tecnoglass in the 2nd quarter valued at approximately $97,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Company Profile

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.