Tecnoglass (NASDAQ:TGLS) Downgraded to “Neutral” at Sidoti

Sidoti lowered shares of Tecnoglass (NASDAQ:TGLS) from a buy rating to a neutral rating in a research report report published on Tuesday morning, MarketBeat reports. They currently have $78.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus boosted their price target on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. B. Riley reissued a “neutral” rating and issued a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. DA Davidson boosted their price target on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday. Finally, Robert W. Baird upped their target price on Tecnoglass from $76.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $67.33.

Tecnoglass Trading Down 9.1 %

NASDAQ:TGLS opened at $68.79 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80. Tecnoglass has a fifty-two week low of $28.21 and a fifty-two week high of $80.51. The stock’s 50-day moving average is $66.16 and its two-hundred day moving average is $57.16. The stock has a market cap of $3.23 billion, a PE ratio of 19.82 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $219.65 million during the quarter, compared to analysts’ expectations of $219.29 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 EPS. As a group, equities research analysts forecast that Tecnoglass will post 3.44 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid 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 Inflows and Outflows

A number of large investors have recently modified their holdings of the company. X Square Capital LLC raised its stake in shares of Tecnoglass by 27.1% in the third quarter. X Square Capital LLC now owns 5,545 shares of the company’s stock valued at $381,000 after purchasing an additional 1,182 shares in the last quarter. Riverwater Partners LLC raised its stake in Tecnoglass by 20.7% during the third quarter. Riverwater Partners LLC now owns 62,664 shares of the company’s stock worth $4,355,000 after acquiring an additional 10,731 shares in the last quarter. Signaturefd LLC raised its stake in Tecnoglass by 4,735.7% during the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after acquiring an additional 663 shares in the last quarter. SG Americas Securities LLC acquired a new position in Tecnoglass during the third quarter worth $488,000. Finally, Sanctuary Advisors LLC acquired a new position in Tecnoglass during the second quarter worth $1,964,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

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.