Tecnoglass (NASDAQ:TGLS) Downgraded to Market Perform at Raymond James

Raymond James downgraded shares of Tecnoglass (NASDAQ:TGLS) from a strong-buy rating to a market perform rating in a report released on Tuesday morning, MarketBeat Ratings reports.

TGLS has been the subject of a number of other reports. 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. DA Davidson upped their price target on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Robert W. Baird upped their price target on shares of Tecnoglass from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday. Stifel Nicolaus upped their price target on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, B. Riley restated a “neutral” rating and issued a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $67.33.

Tecnoglass Trading Down 9.1 %

Tecnoglass stock opened at $68.79 on Tuesday. The firm has a 50 day simple moving average of $66.16 and a 200-day simple moving average of $57.16. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80. The stock has a market capitalization of $3.23 billion, a PE ratio of 19.82 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 earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The firm 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 firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. As a group, equities research analysts expect that Tecnoglass will post 3.44 EPS for the current fiscal year.

Tecnoglass Announces Dividend

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 paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.64%. Tecnoglass’s payout ratio is presently 12.68%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC grew its stake in Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after buying an additional 663 shares during the last quarter. Amalgamated Bank acquired a new position in Tecnoglass in the 2nd quarter valued at $39,000. EntryPoint Capital LLC acquired a new position in Tecnoglass in the 1st quarter valued at $227,000. X Square Capital LLC grew its position in Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after purchasing an additional 237 shares during the last quarter. Finally, PFG Investments LLC acquired a new stake in Tecnoglass in the 2nd quarter worth $220,000. 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.