Tecnoglass (NASDAQ:TGLS) Stock Rating Lowered by Sidoti

Tecnoglass (NASDAQ:TGLS) was downgraded by Sidoti from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, MarketBeat Ratings reports. They currently have a $78.00 price target on the stock. Sidoti’s price target would suggest a potential upside of 12.81% from the stock’s current price.

Other analysts have also issued reports about the stock. Robert W. Baird boosted their price target on shares of Tecnoglass from $76.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday. DA Davidson upped their target price on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Stifel Nicolaus raised 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. Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday. Finally, B. Riley reiterated a “neutral” rating and issued a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a research note 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. According to data from MarketBeat, Tecnoglass presently has an average rating of “Hold” and an average target price of $67.33.

Tecnoglass Stock Performance

Shares of TGLS stock opened at $69.14 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43. The firm has a market cap of $3.25 billion, a P/E ratio of 19.93 and a beta of 1.86. The firm’s 50 day moving average price is $66.38 and its 200-day moving average price is $57.24. Tecnoglass has a one year low of $28.21 and a one year high of $80.51.

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

Institutional Trading of Tecnoglass

Hedge funds and other institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC boosted its position in shares of Tecnoglass by 232.8% during the 1st quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock worth $84,017,000 after acquiring an additional 1,129,603 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in Tecnoglass by 219.7% during the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after purchasing an additional 149,933 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tecnoglass by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock valued at $44,385,000 after purchasing an additional 96,602 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Tecnoglass in the second quarter valued at approximately $3,929,000. Finally, Prevail Innovative Wealth Advisors LLC acquired a new stake in Tecnoglass during the first quarter worth approximately $2,074,000. 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.