Tecnoglass (NASDAQ:TGLS) Shares Gap Down – Here’s Why

Tecnoglass Inc. (NASDAQ:TGLS)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $75.67, but opened at $73.20. Tecnoglass shares last traded at $69.89, with a volume of 94,072 shares trading hands.

Wall Street Analyst Weigh In

TGLS has been the topic of several recent analyst reports. Sidoti cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a report on Tuesday. Robert W. Baird boosted their price target on shares of Tecnoglass from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday. DA Davidson increased their price target on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Stifel Nicolaus lifted their price objective on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, B. Riley reissued a “neutral” rating and issued a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $67.33.

Tecnoglass Trading Up 0.6 %

The stock has a 50-day moving average of $66.38 and a two-hundred day moving average of $57.24. The company has a market cap of $3.25 billion, a P/E ratio of 19.93 and a beta of 1.86. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. The firm had revenue of $219.65 million during the quarter, compared to the consensus estimate of $219.29 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the company earned $1.12 earnings per share. On average, equities research analysts predict that Tecnoglass Inc. will post 3.44 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.64%. Tecnoglass’s dividend payout ratio (DPR) is presently 12.68%.

Hedge Funds Weigh In On Tecnoglass

A number of hedge funds have recently bought and sold shares of the business. William Blair Investment Management LLC grew its stake in shares of Tecnoglass by 8.7% in the second quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock worth $88,060,000 after acquiring an additional 140,112 shares during the period. Dimensional Fund Advisors LP raised its stake in Tecnoglass by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock valued at $44,385,000 after buying an additional 96,602 shares during the last quarter. Wellington Management Group LLP raised its stake in Tecnoglass by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock valued at $19,248,000 after buying an additional 22,169 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Tecnoglass by 2.3% during the 1st quarter. Clearbridge Investments LLC now owns 389,876 shares of the company’s stock valued at $20,285,000 after buying an additional 8,913 shares during the period. Finally, Ensign Peak Advisors Inc boosted its stake in shares of Tecnoglass by 219.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after buying an additional 149,933 shares during the last quarter. Hedge funds and other institutional investors own 37.35% of the company’s stock.

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.