Tecnoglass (NASDAQ:TGLS) Rating Lowered to Neutral at B. Riley

Tecnoglass (NASDAQ:TGLS) was downgraded by research analysts at B. Riley from a “buy” rating to a “neutral” rating in a research note issued on Monday, Briefing.com reports. They presently have a $69.00 price objective on the stock, up from their previous price objective of $60.00. B. Riley’s target price points to a potential upside of 0.51% from the company’s current price.

A number of other research analysts have also issued reports on the company. Robert W. Baird lifted their target price on Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Wednesday, June 26th. DA Davidson boosted their price target on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Finally, Stifel Nicolaus raised their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tecnoglass currently has an average rating of “Moderate Buy” and an average price target of $63.67.

Tecnoglass Price Performance

TGLS opened at $68.65 on Monday. The stock’s 50-day moving average price is $58.05 and its 200 day moving average price is $53.77. Tecnoglass has a 12-month low of $28.21 and a 12-month high of $69.79. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 19.78 and a beta of 1.86. 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 posted its quarterly earnings data 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 net margin of 17.97% and a return on equity of 28.12%. The business had revenue of $219.65 million during the quarter, compared to analyst estimates of $219.29 million. During the same quarter last year, the firm posted $1.12 earnings per share. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Tecnoglass will post 3.42 earnings per share for the current year.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently bought and sold shares of TGLS. Dimensional Fund Advisors LP grew its position in shares of Tecnoglass by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 732,736 shares of the company’s stock worth $33,495,000 after acquiring an additional 37,091 shares during the last quarter. 1492 Capital Management LLC acquired a new stake in Tecnoglass during the 4th quarter worth approximately $3,468,000. Weiss Asset Management LP purchased a new position in shares of Tecnoglass in the 4th quarter valued at approximately $648,000. Capstone Investment Advisors LLC acquired a new position in shares of Tecnoglass in the fourth quarter valued at approximately $1,375,000. Finally, Owls Nest Partners IA LLC raised its stake in shares of Tecnoglass by 200.1% during the fourth quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock worth $26,410,000 after purchasing an additional 385,265 shares during the last quarter. 37.35% of the stock is 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.