Sidoti Downgrades Tecnoglass (NASDAQ:TGLS) to Neutral

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

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

Tecnoglass Stock Up 0.8 %

Shares of Tecnoglass stock opened at $69.72 on Tuesday. The business’s fifty day moving average price is $66.58 and its two-hundred day moving average price is $57.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80. The company has a market capitalization of $3.28 billion, a P/E ratio of 20.09 and a beta of 1.86. Tecnoglass has a 1-year low of $28.21 and a 1-year high of $80.51.

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

Tecnoglass Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s payout ratio is 12.68%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Crossmark Global Holdings Inc. grew its holdings in shares of Tecnoglass by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after buying an additional 220 shares in the last quarter. X Square Capital LLC grew its holdings in shares of Tecnoglass by 5.7% during the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after buying an additional 237 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Tecnoglass by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock valued at $687,000 after buying an additional 292 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Tecnoglass by 4,735.7% during the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after buying an additional 663 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Tecnoglass during the second quarter valued at $39,000. Hedge funds and other institutional investors 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.