Tecnoglass (NASDAQ:TGLS) Downgraded to “Neutral” at Sidoti

Tecnoglass (NASDAQ:TGLS) was downgraded by stock analysts at Sidoti from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, Briefing.com reports. They currently have a $78.00 target price on the stock. Sidoti’s price objective indicates a potential upside of 3.27% from the company’s current price.

TGLS has been the topic of several other reports. Robert W. Baird upped their price target on Tecnoglass from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday. Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday. Stifel Nicolaus raised their target price on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. B. Riley reissued 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. Finally, DA Davidson raised their price objective on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $67.33.

Tecnoglass Trading Down 3.3 %

Shares of TGLS stock opened at $75.53 on Tuesday. Tecnoglass has a fifty-two week low of $28.21 and a fifty-two week high of $80.51. 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 stock’s fifty day moving average is $65.93 and its two-hundred day moving average is $57.05. The firm has a market capitalization of $3.55 billion, a P/E ratio of 21.77 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The firm had revenue of $219.65 million for the quarter, compared to the consensus estimate of $219.29 million. During the same period last year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Research analysts expect that Tecnoglass will post 3.44 earnings per share for the current fiscal year.

Institutional Trading of Tecnoglass

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of Tecnoglass by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock valued at $19,248,000 after acquiring an additional 22,169 shares during the last quarter. Capstone Investment Advisors LLC boosted its position in shares of Tecnoglass by 57.5% during the 1st quarter. Capstone Investment Advisors LLC now owns 47,368 shares of the company’s stock worth $2,465,000 after purchasing an additional 17,292 shares during the period. Prevail Innovative Wealth Advisors LLC acquired a new stake in Tecnoglass in the 1st quarter valued at approximately $2,074,000. Commonwealth Equity Services LLC raised its position in Tecnoglass by 295.5% in the first quarter. Commonwealth Equity Services LLC now owns 20,630 shares of the company’s stock valued at $1,073,000 after purchasing an additional 15,414 shares during the period. Finally, Rhumbline Advisers acquired a new position in Tecnoglass during the second quarter worth $1,468,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

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.