Tecnoglass (NASDAQ:TGLS) Given “Neutral” Rating at B. Riley

B. Riley reiterated their neutral rating on shares of Tecnoglass (NASDAQ:TGLS) in a research note released on Thursday morning, Benzinga reports. They currently have a $72.00 price target on the stock, up from their previous price target of $69.00.

A number of other brokerages have also issued reports on TGLS. Stifel Nicolaus boosted 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. Sidoti raised shares of Tecnoglass from a neutral rating to a buy rating and set a $68.00 price objective for the company in a report on Wednesday, June 26th. Robert W. Baird increased their target price on shares of Tecnoglass from $68.00 to $76.00 and gave the company an outperform rating in a research report on Tuesday, September 17th. Finally, 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 research report on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tecnoglass presently has a consensus rating of Moderate Buy and a consensus price target of $64.17.

Tecnoglass Stock Up 2.9 %

TGLS stock opened at $74.66 on Thursday. The stock has a market cap of $3.51 billion, a PE ratio of 21.52 and a beta of 1.86. The firm’s 50-day simple moving average is $63.01 and its 200 day simple moving average is $56.01. Tecnoglass has a fifty-two week low of $28.21 and a fifty-two week high of $75.07. The company has a quick ratio of 1.80, a current ratio of 2.43 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. The company had revenue of $219.65 million for the quarter, compared to analyst estimates of $219.29 million. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. Tecnoglass’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 earnings per share. As a group, sell-side analysts predict that Tecnoglass will post 3.44 EPS for the current year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is presently 12.68%.

Hedge Funds Weigh In On Tecnoglass

Large investors have recently made changes to their positions in the business. Amalgamated Bank bought a new stake in Tecnoglass during the second quarter worth approximately $39,000. X Square Capital LLC grew its holdings in shares of Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after acquiring an additional 237 shares during the last quarter. PFG Investments LLC acquired a new stake in shares of Tecnoglass during the second quarter worth $220,000. EntryPoint Capital LLC purchased a new stake in shares of Tecnoglass during the first quarter valued at $227,000. Finally, Tidal Investments LLC acquired a new position in shares of Tecnoglass in the 1st quarter valued at $245,000. 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.