Tecnoglass (NASDAQ:TGLS) Shares Gap Down - What's Next?

Shares of Tecnoglass Inc. (NASDAQ:TGLS - Get Free Report) gapped down prior to trading 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 Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Raymond James lowered shares of Tecnoglass from a "strong-buy" rating to a "market perform" rating in a report on Tuesday. Stifel Nicolaus boosted their price target on shares of Tecnoglass from $50.00 to $59.00 and gave the company a "hold" rating in a report on Friday, August 9th. B. Riley reaffirmed a "neutral" rating and issued a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Sidoti lowered shares of Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 target price for the company. in a research note on Tuesday. Finally, DA Davidson upped their target price 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $67.33.

Tecnoglass Stock Performance

The stock's 50 day moving average price is $66.16 and its 200 day moving average price is $57.16. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 19.82 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The company had revenue of $219.65 million during the quarter, compared to the consensus estimate of $219.29 million. During the same period in the prior year, the business posted $1.12 EPS. The company's quarterly revenue was down 2.5% on a year-over-year basis. Analysts expect that Tecnoglass Inc. will post 3.44 earnings per share for the current year.

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.11 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.64%. Tecnoglass's payout ratio is 12.68%.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC raised its holdings in shares of Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company's stock valued at $46,000 after purchasing an additional 663 shares during the period. SG Americas Securities LLC bought a new position in Tecnoglass in the 3rd quarter valued at about $488,000. Sanctuary Advisors LLC bought a new position in Tecnoglass in the 2nd quarter valued at about $1,964,000. The Manufacturers Life Insurance Company bought a new position in Tecnoglass in the 2nd quarter valued at about $589,000. Finally, Dark Forest Capital Management LP raised its holdings in Tecnoglass by 28.6% in the 2nd quarter. Dark Forest Capital Management LP now owns 12,542 shares of the company's stock valued at $629,000 after acquiring an additional 2,789 shares during the period. 37.35% of the stock is owned by institutional investors.

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.