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

Sidoti lowered shares of Tecnoglass (NASDAQ:TGLS) from a buy rating to a neutral rating in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has $59.00 price objective on the stock, up from their previous price objective of $56.00.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus cut shares of Tecnoglass from a buy rating to a hold rating and cut their price target for the company from $48.00 to $45.00 in a report on Wednesday, February 14th. Robert W. Baird lifted their target price on shares of Tecnoglass from $56.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, April 18th. B. Riley increased their price target on shares of Tecnoglass from $51.00 to $65.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. Finally, DA Davidson reaffirmed a buy rating and set a $50.00 price objective on shares of Tecnoglass in a research report on Monday, March 4th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $54.83.

Tecnoglass Price Performance

TGLS stock opened at $54.48 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average price is $51.55 and its two-hundred day moving average price is $44.18. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 14.15 and a beta of 1.79. Tecnoglass has a 12-month low of $28.21 and a 12-month high of $59.76.

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

Tecnoglass Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.81%. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, March 27th. Tecnoglass’s dividend payout ratio (DPR) is presently 11.43%.

Institutional Investors Weigh In On Tecnoglass

Several hedge funds have recently bought and sold shares of TGLS. Thompson Siegel & Walmsley LLC bought a new position in shares of Tecnoglass in the third quarter worth approximately $26,000. PNC Financial Services Group Inc. raised its position in Tecnoglass by 27.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the company’s stock worth $96,000 after buying an additional 632 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Tecnoglass during the 4th quarter valued at about $201,000. HBK Sorce Advisory LLC purchased a new stake in shares of Tecnoglass during the 4th quarter valued at about $234,000. Finally, M&T Bank Corp purchased a new position in shares of Tecnoglass during the fourth quarter valued at approximately $244,000. Institutional investors own 37.35% of the company’s stock.

About Tecnoglass

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.