Tecnoglass (NASDAQ:TGLS) Rating Increased to Buy at Sidoti

Sidoti upgraded shares of Tecnoglass (NASDAQ:TGLS) from a neutral rating to a buy rating in a research report released on Wednesday morning, MarketBeat reports. The brokerage currently has $68.00 price objective on the stock.

Other equities analysts also recently issued research reports about the company. DA Davidson reaffirmed a buy rating and issued a $50.00 price objective on shares of Tecnoglass in a research report on Monday, March 4th. B. Riley reiterated a buy rating and issued a $60.00 price target (down from $65.00) on shares of Tecnoglass in a research note on Friday, May 10th. Finally, Robert W. Baird decreased their price target on Tecnoglass from $65.00 to $64.00 and set an outperform rating for the company in a research note on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tecnoglass presently has a consensus rating of Moderate Buy and an average target price of $55.33.

Tecnoglass Stock Up 1.4 %

Shares of TGLS opened at $50.18 on Wednesday. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 14.46 and a beta of 1.79. Tecnoglass has a 1 year low of $28.21 and a 1 year high of $59.76. The business’s 50 day simple moving average is $51.04 and its 200-day simple moving average is $48.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 1.72.

Tecnoglass (NASDAQ:TGLS) last released its earnings results on Thursday, May 9th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $192.09 million for the quarter, compared to the consensus estimate of $191.04 million. Tecnoglass had a net margin of 19.97% and a return on equity of 31.85%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 EPS. As a group, equities analysts expect that Tecnoglass will post 3.37 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, June 28th. Tecnoglass’s dividend payout ratio is presently 12.68%.

Institutional Trading of Tecnoglass

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC grew its holdings in Tecnoglass by 30.1% during the first quarter. Virtu Financial LLC now owns 7,806 shares of the company’s stock worth $406,000 after acquiring an additional 1,807 shares during the period. Walleye Trading LLC grew its holdings in Tecnoglass by 664.2% during the first quarter. Walleye Trading LLC now owns 5,884 shares of the company’s stock worth $306,000 after acquiring an additional 5,114 shares during the period. Tidal Investments LLC acquired a new stake in Tecnoglass during the first quarter worth about $245,000. EntryPoint Capital LLC acquired a new stake in Tecnoglass during the first quarter worth about $227,000. Finally, Clearbridge Investments LLC grew its holdings in Tecnoglass by 2.3% during the first quarter. Clearbridge Investments LLC now owns 389,876 shares of the company’s stock worth $20,285,000 after acquiring an additional 8,913 shares during the period. 37.35% of the stock is owned by institutional investors and hedge funds.

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.