Tecnoglass (NASDAQ:TGLS) Downgraded by Sidoti

Sidoti downgraded shares of Tecnoglass (NASDAQ:TGLS) from a buy rating to a neutral rating in a research report released on Wednesday, Marketbeat Ratings reports. They currently have $59.00 price target on the stock, up from their prior price target of $56.00.

A number of other research firms have also weighed in on TGLS. Stifel Nicolaus lowered Tecnoglass from a buy rating to a hold rating and dropped their price objective for the stock from $48.00 to $45.00 in a research note on Wednesday, February 14th. DA Davidson restated a buy rating and issued a $50.00 price target on shares of Tecnoglass in a research note on Monday, March 4th. B. Riley lifted their price objective on shares of Tecnoglass from $51.00 to $65.00 and gave the company a buy rating in a research report on Tuesday, April 9th. Finally, Robert W. Baird boosted their target price on shares of Tecnoglass from $56.00 to $65.00 and gave the stock an outperform rating in a report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $54.83.

Tecnoglass Price Performance

NASDAQ TGLS opened at $52.72 on Wednesday. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 13.69 and a beta of 1.80. Tecnoglass has a 12 month low of $28.21 and a 12 month high of $59.76. The company’s 50 day moving average is $51.18 and its two-hundred day moving average is $43.97. The company has a current ratio of 2.27, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30.

Tecnoglass (NASDAQ:TGLS) last released its earnings results on Thursday, February 29th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. Tecnoglass had a net margin of 21.95% and a return on equity of 38.92%. The company had revenue of $194.60 million for the quarter, compared to analysts’ expectations of $199.93 million. As a group, research analysts anticipate that Tecnoglass will post 3.7 earnings per share for the current year.

Tecnoglass Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were paid a $0.11 dividend. This is an increase from Tecnoglass’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, March 27th. This represents a $0.44 dividend on an annualized basis and a yield of 0.83%. Tecnoglass’s payout ratio is presently 11.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TGLS. Capstone Investment Advisors LLC increased its position in Tecnoglass by 57.5% in the first quarter. Capstone Investment Advisors LLC now owns 47,368 shares of the company’s stock worth $2,465,000 after purchasing an additional 17,292 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Tecnoglass by 295.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 20,630 shares of the company’s stock worth $1,073,000 after buying an additional 15,414 shares in the last quarter. Renaissance Group LLC increased its holdings in shares of Tecnoglass by 2.6% in the 1st quarter. Renaissance Group LLC now owns 197,133 shares of the company’s stock worth $10,257,000 after buying an additional 5,071 shares during the last quarter. Verdence Capital Advisors LLC bought a new stake in shares of Tecnoglass in the 1st quarter worth about $356,000. Finally, Polaris Capital Management LLC raised its position in shares of Tecnoglass by 0.6% during the 1st quarter. Polaris Capital Management LLC now owns 902,064 shares of the company’s stock valued at $46,934,000 after buying an additional 5,300 shares in the last quarter. 37.35% of the stock is currently 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.