Tecnoglass’ (TGLS) “Neutral” Rating Reaffirmed at B. Riley

B. Riley restated their neutral rating on shares of Tecnoglass (NASDAQ:TGLS) in a report issued on Thursday, Benzinga reports. B. Riley currently has a $72.00 price objective on the stock, up from their prior price objective of $69.00.

Several other research firms have also commented on TGLS. Stifel Nicolaus raised their target price on shares of Tecnoglass from $50.00 to $59.00 and gave the company a hold rating in a report on Friday, August 9th. Robert W. Baird lifted their price objective on shares of Tecnoglass from $68.00 to $76.00 and gave the company an outperform rating in a research note on Tuesday, September 17th. DA Davidson upped their target price on Tecnoglass from $60.00 to $65.00 and gave the stock a buy rating in a research note on Tuesday, August 13th. Finally, Sidoti raised Tecnoglass from a neutral rating to a buy rating and set a $68.00 target price on the stock in a report on Wednesday, June 26th. Two 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. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $64.17.

Tecnoglass Stock Performance

Shares of NASDAQ:TGLS opened at $72.31 on Thursday. Tecnoglass has a 12-month low of $28.21 and a 12-month high of $73.58. The company’s 50 day moving average price is $62.54 and its two-hundred day moving average price is $55.83. The firm has a market cap of $3.40 billion, a PE ratio of 22.02 and a beta of 1.86. The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $219.65 million for the quarter, compared to analyst estimates of $219.29 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $1.12 EPS. Equities research analysts predict that Tecnoglass will post 3.44 earnings per share for the current year.

Tecnoglass Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.61%. Tecnoglass’s payout ratio is presently 14.10%.

Institutional Investors Weigh In On Tecnoglass

Hedge funds and other institutional investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its stake in shares of Tecnoglass by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after purchasing an additional 220 shares in the last quarter. X Square Capital LLC boosted its position in Tecnoglass by 5.7% during the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after buying an additional 237 shares during the period. SummerHaven Investment Management LLC grew its holdings in Tecnoglass by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock worth $687,000 after acquiring an additional 292 shares during the last quarter. Amalgamated Bank bought a new stake in Tecnoglass during the 2nd quarter worth approximately $39,000. Finally, Linden Thomas Advisory Services LLC increased its position in Tecnoglass by 10.0% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 10,150 shares of the company’s stock valued at $509,000 after acquiring an additional 920 shares during the period. 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.