Tecnoglass (NYSE:TGLS) Shares Break Above 200-Day Moving Average – Here’s What Happened

Tecnoglass Inc. (NYSE:TGLS)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $43.06 and traded as high as $45.14. Tecnoglass shares last traded at $44.9050, with a volume of 804,881 shares trading hands.

Analyst Upgrades and Downgrades

TGLS has been the subject of several analyst reports. Weiss Ratings raised shares of Tecnoglass from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 2nd. Zacks Research raised shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 20th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.33.

Tecnoglass Price Performance

The company has a current ratio of 1.86, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28. The stock has a 50 day simple moving average of $37.83 and a 200-day simple moving average of $43.06. The firm has a market cap of $1.99 billion and a PE ratio of 15.81.

Tecnoglass (NYSE:TGLS) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Tecnoglass had a return on equity of 17.84% and a net margin of 12.35%. The firm had revenue of $310.57 million during the quarter. During the same period last year, the company earned $1.00 EPS. The business’s revenue was up 19.2% on a year-over-year basis. Equities analysts anticipate that Tecnoglass Inc. will post 2.57 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, September 30th. Tecnoglass’s dividend payout ratio is presently 21.13%.

Institutional Investors Weigh In On Tecnoglass

Several institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in shares of Tecnoglass by 444.0% during the 1st quarter. Parallel Advisors LLC now owns 952 shares of the company’s stock valued at $42,000 after purchasing an additional 777 shares during the last quarter. State of Wyoming grew its position in shares of Tecnoglass by 53.1% during the first quarter. State of Wyoming now owns 1,415 shares of the company’s stock valued at $63,000 after purchasing an additional 491 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Tecnoglass by 276.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,359 shares of the company’s stock worth $68,000 after purchasing an additional 998 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Tecnoglass in the first quarter worth about $242,000. Finally, AXQ Capital LP purchased a new stake in shares of Tecnoglass in the second quarter worth about $301,000. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Company Profile

Tecnoglass Inc (NYSE:TGLS) is a manufacturer of architectural glass, windows and aluminum products for residential and commercial construction. The company produces impact- and non-impact-resistant windows and doors, insulated and laminated glass, curtain wall systems, storefronts, railings and related architectural components.

Founded in 1994, Tecnoglass is headquartered in Barranquilla, Colombia, where it operates integrated manufacturing facilities serving the building-products market.