Tecnoglass (NASDAQ:TGLS) Raised to Buy at Sidoti

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

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

Tecnoglass Stock Up 1.4 %

Tecnoglass stock opened at $50.18 on Wednesday. The stock has a market capitalization of $2.36 billion, a PE ratio of 14.46 and a beta of 1.79. Tecnoglass has a twelve month low of $28.21 and a twelve month high of $59.76. The company has a quick ratio of 1.72, a current ratio of 2.33 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average of $51.04 and a 200-day moving average of $48.58.

Tecnoglass (NASDAQ:TGLS) last released its quarterly 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 during the quarter, compared to analyst estimates of $191.04 million. Tecnoglass had a net margin of 19.97% and a return on equity of 31.85%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 EPS. On average, equities research analysts anticipate that Tecnoglass will post 3.37 EPS for the current fiscal year.

Tecnoglass Announces Dividend

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

Hedge Funds Weigh In On Tecnoglass

Several institutional investors and hedge funds have recently modified their holdings of TGLS. William Blair Investment Management LLC grew its stake in shares of Tecnoglass by 232.8% in the first quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock valued at $84,017,000 after acquiring an additional 1,129,603 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Tecnoglass by 84.6% in the third quarter. American Century Companies Inc. now owns 2,105,685 shares of the company’s stock valued at $69,403,000 after acquiring an additional 965,316 shares in the last quarter. Owls Nest Partners IA LLC grew its stake in shares of Tecnoglass by 200.1% in the fourth 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 in the last quarter. Cooke & Bieler LP grew its stake in shares of Tecnoglass by 35.8% in the fourth quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock valued at $59,431,000 after acquiring an additional 342,451 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Tecnoglass by 58.8% in the fourth quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock valued at $37,288,000 after acquiring an additional 302,163 shares in the last quarter. 37.35% of the stock is currently 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.