Tecnoglass (NASDAQ:TGLS) Stock Rating Lowered by B. Riley

Tecnoglass (NASDAQ:TGLS) was downgraded by stock analysts at B. Riley from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, Marketbeat.com reports. They currently have a $69.00 price objective on the stock, up from their prior price objective of $60.00. B. Riley’s price objective points to a potential upside of 3.36% from the stock’s previous close.

TGLS has been the subject of a number of other research reports. DA Davidson increased their target price on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Sidoti upgraded shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Wednesday, June 26th. Stifel Nicolaus increased their target price on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Robert W. Baird increased their price objective on shares of Tecnoglass from $68.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Tecnoglass Trading Down 0.2 %

Shares of TGLS stock opened at $66.76 on Monday. Tecnoglass has a 52-week low of $28.21 and a 52-week high of $69.79. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 19.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43. The firm has a fifty day moving average of $58.53 and a 200-day moving average of $54.07.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The company had revenue of $219.65 million during the quarter, compared to analysts’ expectations of $219.29 million. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 EPS. On average, equities research analysts forecast that Tecnoglass will post 3.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TGLS. William Blair Investment Management LLC boosted its stake in shares of Tecnoglass by 232.8% in the 1st quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock valued at $84,017,000 after purchasing an additional 1,129,603 shares during the last quarter. Owls Nest Partners IA LLC raised its position in shares of Tecnoglass by 200.1% in the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock valued at $26,410,000 after acquiring an additional 385,265 shares during the period. Ensign Peak Advisors Inc raised its position in shares of Tecnoglass by 219.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock valued at $10,949,000 after acquiring an additional 149,933 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Tecnoglass by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock valued at $44,385,000 after acquiring an additional 96,602 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Tecnoglass in the 2nd quarter valued at approximately $3,929,000. 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.