Tecnoglass (NASDAQ:TGLS) Stock Rating Lowered by Raymond James

Raymond James lowered shares of Tecnoglass (NASDAQ:TGLS) from a strong-buy rating to a market perform rating in a research note issued to investors on Tuesday morning, MarketBeat reports.

Several other analysts also recently issued reports on TGLS. Robert W. Baird lifted their price target on Tecnoglass from $76.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. B. Riley reaffirmed a “neutral” rating and set a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. DA Davidson lifted their price objective on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a 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 report on Wednesday, June 26th. Finally, Stifel Nicolaus lifted their price target on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $67.33.

Tecnoglass Stock Performance

Shares of Tecnoglass stock opened at $69.74 on Tuesday. The stock’s fifty day simple moving average is $66.80 and its 200 day simple moving average is $57.42. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.28 billion, a PE ratio of 20.10 and a beta of 1.86. Tecnoglass has a 12 month low of $28.21 and a 12 month high of $80.51.

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

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.63%. Tecnoglass’s payout ratio is 12.68%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TGLS. William Blair Investment Management LLC lifted its stake in Tecnoglass by 8.7% in the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after purchasing an additional 140,112 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Tecnoglass by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after acquiring an additional 96,602 shares during the period. Wellington Management Group LLP increased its holdings in shares of Tecnoglass by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock worth $19,248,000 after acquiring an additional 22,169 shares during the last quarter. Clearbridge Investments LLC raised its stake in Tecnoglass by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 389,876 shares of the company’s stock valued at $20,285,000 after acquiring an additional 8,913 shares during the period. Finally, Ensign Peak Advisors Inc lifted its holdings in Tecnoglass by 219.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock valued at $10,949,000 after purchasing an additional 149,933 shares during the last quarter. 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.