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

Sidoti cut shares of Tecnoglass (NASDAQ:TGLS) from a buy rating to a neutral rating in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has $59.00 target price on the stock, up from their prior target price of $56.00.

TGLS has been the subject of several other reports. Robert W. Baird increased their price objective on Tecnoglass from $56.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. DA Davidson reissued a buy rating and set a $50.00 price objective on shares of Tecnoglass in a research report on Monday, March 4th. Stifel Nicolaus cut shares of Tecnoglass from a buy rating to a hold rating and decreased their target price for the company from $48.00 to $45.00 in a research report on Wednesday, February 14th. Finally, B. Riley increased their target price on shares of Tecnoglass from $51.00 to $65.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $54.83.

Tecnoglass Price Performance

NASDAQ:TGLS opened at $54.48 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 2.27 and a debt-to-equity ratio of 0.30. Tecnoglass has a 52 week low of $28.21 and a 52 week high of $59.76. The stock’s 50-day moving average price is $51.55 and its 200-day moving average price is $44.26. The stock has a market capitalization of $2.56 billion, a PE ratio of 14.15 and a beta of 1.79.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.05. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. The company had revenue of $194.60 million for the quarter, compared to analysts’ expectations of $199.93 million. As a group, equities analysts expect that Tecnoglass will post 3.7 EPS for the current fiscal year.

Tecnoglass Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Tecnoglass’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, March 27th. Tecnoglass’s payout ratio is 11.43%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TGLS. Thompson Siegel & Walmsley LLC purchased a new stake in Tecnoglass during the third quarter valued at about $26,000. PNC Financial Services Group Inc. increased its stake in Tecnoglass by 27.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the company’s stock worth $96,000 after buying an additional 632 shares during the period. Handelsbanken Fonder AB acquired a new position in shares of Tecnoglass in the 4th quarter valued at approximately $201,000. Clough Capital Partners L P acquired a new stake in shares of Tecnoglass in the 3rd quarter valued at about $216,000. Finally, HBK Sorce Advisory LLC bought a new position in shares of Tecnoglass in the 4th quarter worth about $234,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

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.