Tecnoglass (NASDAQ:TGLS) Cut to Neutral at Sidoti

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

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

Tecnoglass Stock Performance

NASDAQ:TGLS opened at $54.48 on Wednesday. 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 has a twelve month low of $28.21 and a twelve month high of $59.76. The company has a fifty day moving average of $51.55 and a 200-day moving average of $44.18. The firm has a market capitalization of $2.56 billion, a P/E ratio of 14.15 and a beta of 1.79.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.80 EPS for the quarter, topping 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 business had revenue of $194.60 million during the quarter, compared to analysts’ expectations of $199.93 million. As a group, sell-side analysts anticipate that Tecnoglass will post 3.7 EPS 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 given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.81%. This is an increase from Tecnoglass’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, March 27th. Tecnoglass’s dividend payout ratio is presently 11.43%.

Hedge Funds Weigh In On Tecnoglass

Several hedge funds have recently modified their holdings of TGLS. GSA Capital Partners LLP purchased a new stake in shares of Tecnoglass during the first quarter valued at approximately $560,000. Capstone Investment Advisors LLC grew 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 valued at $2,465,000 after purchasing an additional 17,292 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Tecnoglass by 295.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 20,630 shares of the company’s stock valued at $1,073,000 after purchasing an additional 15,414 shares during the last quarter. Renaissance Group LLC boosted 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. Finally, Verdence Capital Advisors LLC bought a new position in Tecnoglass during the first quarter valued at about $356,000. 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.