Tecnoglass (NASDAQ:TGLS) Upgraded by Sidoti to “Buy”

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

Several other equities analysts have also issued reports on the company. Robert W. Baird cut their price target on Tecnoglass from $65.00 to $64.00 and set an outperform rating on the stock in a research note on Tuesday, May 7th. DA Davidson reaffirmed a buy rating and set a $50.00 price target on shares of Tecnoglass in a research note on Monday, March 4th. Finally, B. Riley reaffirmed a buy rating and set a $60.00 price target (down previously from $65.00) on shares of Tecnoglass in a research note on Friday, May 10th. 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. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $55.33.

Tecnoglass Stock Performance

Shares of NASDAQ:TGLS opened at $50.28 on Wednesday. The business’s fifty day moving average price is $51.27 and its two-hundred day moving average price is $48.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 1.72. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 14.49 and a beta of 1.79. Tecnoglass has a fifty-two week low of $28.21 and a fifty-two week high of $59.76.

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

Tecnoglass Announces Dividend

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

Hedge Funds Weigh In On Tecnoglass

Hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC acquired a new stake in shares of Tecnoglass during the third quarter worth about $244,000. PNC Financial Services Group Inc. raised its position in shares of Tecnoglass by 27.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the company’s stock worth $96,000 after purchasing an additional 632 shares during the period. LPL Financial LLC raised its position in shares of Tecnoglass by 24.5% during the third quarter. LPL Financial LLC now owns 104,862 shares of the company’s stock worth $3,456,000 after purchasing an additional 20,640 shares during the period. Qube Research & Technologies Ltd raised its position in shares of Tecnoglass by 82.6% during the third quarter. Qube Research & Technologies Ltd now owns 183,119 shares of the company’s stock worth $6,036,000 after purchasing an additional 82,833 shares during the period. Finally, Clough Capital Partners L P acquired a new stake in shares of Tecnoglass during the third quarter worth about $216,000. Institutional investors and hedge funds 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.