Tecnoglass (NASDAQ:TGLS) Lowered to Neutral at Sidoti

Sidoti cut shares of Tecnoglass (NASDAQ:TGLS) from a buy rating to a neutral rating in a research note 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.

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

Tecnoglass Stock Down 5.1 %

Shares of NASDAQ TGLS opened at $52.72 on Wednesday. The business has a 50-day simple moving average of $51.18 and a two-hundred day simple moving average of $43.97. Tecnoglass has a 52 week low of $28.21 and a 52 week high of $59.76. The company has a market cap of $2.48 billion, a P/E ratio of 13.69 and a beta of 1.80. The company has a quick ratio of 1.60, a current ratio of 2.27 and a debt-to-equity ratio of 0.30.

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

Tecnoglass Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.44 annualized dividend and a dividend yield of 0.83%. This is a positive change from Tecnoglass’s previous quarterly dividend of $0.09. Tecnoglass’s dividend payout ratio (DPR) is currently 11.43%.

Institutional Trading of Tecnoglass

Several hedge funds have recently added to or reduced their stakes in the business. Capstone Investment Advisors LLC increased its stake in Tecnoglass by 57.5% in the 1st 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 period. Commonwealth Equity Services LLC increased its stake in shares of Tecnoglass by 295.5% in the first 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 during the period. Renaissance Group LLC increased its stake in shares of Tecnoglass by 2.6% in the first 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 period. Verdence Capital Advisors LLC bought a new stake in Tecnoglass during the 1st quarter valued at $356,000. Finally, Polaris Capital Management LLC boosted its position in 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 during the period. 37.35% of the stock is owned by institutional investors.

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.