Sidoti Upgrades Tecnoglass (NASDAQ:TGLS) to “Buy”

Tecnoglass (NASDAQ:TGLS) was upgraded by Sidoti from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, Marketbeat.com reports. The firm currently has a $68.00 price target on the stock. Sidoti’s target price points to a potential upside of 37.57% from the company’s previous close.

A number of other research firms also recently commented on TGLS. DA Davidson restated a “buy” rating and set a $50.00 price objective on shares of Tecnoglass in a report on Monday, March 4th. B. Riley reissued a “buy” rating and issued a $60.00 price objective (down from $65.00) on shares of Tecnoglass in a research report on Friday, May 10th. Finally, Robert W. Baird cut their price objective on Tecnoglass from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.33.

Tecnoglass Trading Down 0.9 %

TGLS stock opened at $49.43 on Wednesday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 14.24 and a beta of 1.79. The company has a quick ratio of 1.72, a current ratio of 2.33 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $51.13 and a 200-day simple moving average of $48.51. Tecnoglass has a 52 week low of $28.21 and a 52 week high of $59.76.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The firm had revenue of $192.09 million for the quarter, compared to analyst estimates of $191.04 million. Tecnoglass had a return on equity of 31.85% and a net margin of 19.97%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.08 earnings per share. On average, equities research analysts expect that Tecnoglass will post 3.37 EPS for the current year.

Institutional Trading of Tecnoglass

Several large investors have recently modified their holdings of the business. American Century Companies Inc. grew its stake in shares of Tecnoglass by 84.6% during the third quarter. American Century Companies Inc. now owns 2,105,685 shares of the company’s stock valued at $69,403,000 after acquiring an additional 965,316 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Tecnoglass by 232.8% during the first quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock valued at $84,017,000 after acquiring an additional 1,129,603 shares in the last quarter. Cooke & Bieler LP grew its stake in shares of Tecnoglass by 35.8% during the fourth quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock valued at $59,431,000 after acquiring an additional 342,451 shares in the last quarter. Polaris Capital Management LLC grew its stake in shares of Tecnoglass by 0.6% during the first quarter. Polaris Capital Management LLC now owns 902,064 shares of the company’s stock valued at $46,934,000 after acquiring an additional 5,300 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Tecnoglass by 58.8% in the fourth quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock worth $37,288,000 after purchasing an additional 302,163 shares in the last quarter. 37.35% of the stock is currently owned by institutional investors and hedge funds.

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.