Tecnoglass (NASDAQ:TGLS) Downgraded by Raymond James

Raymond James lowered shares of Tecnoglass (NASDAQ:TGLS) from a strong-buy rating to a market perform rating in a research report report published on Tuesday, MarketBeat.com reports.

A number of other equities research analysts have also recently issued reports on TGLS. B. Riley reiterated a “neutral” rating and set a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. 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 report on Tuesday, August 13th. 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 research note on Wednesday, June 26th. Stifel Nicolaus increased their price target on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Robert W. Baird lifted their price objective on Tecnoglass from $76.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.33.

Tecnoglass Stock Up 0.8 %

NASDAQ TGLS opened at $69.72 on Tuesday. Tecnoglass has a 1-year low of $28.21 and a 1-year high of $80.51. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 20.09 and a beta of 1.86. The stock’s 50 day moving average is $66.58 and its two-hundred day moving average is $57.33. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24.

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

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is presently 12.68%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its holdings in Tecnoglass by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock valued at $355,000 after acquiring an additional 220 shares during the last quarter. X Square Capital LLC lifted its position in Tecnoglass by 5.7% during the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after purchasing an additional 237 shares during the period. SummerHaven Investment Management LLC boosted its stake in shares of Tecnoglass by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock valued at $687,000 after purchasing an additional 292 shares during the last quarter. Signaturefd LLC grew its position in shares of Tecnoglass by 4,735.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after buying an additional 663 shares during the period. Finally, Amalgamated Bank bought a new stake in shares of Tecnoglass during the second quarter worth approximately $39,000. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Company Profile

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.