Tecnoglass (NASDAQ:TGLS) Downgraded by Sidoti to Neutral

Tecnoglass (NASDAQ:TGLS) was downgraded by stock analysts at Sidoti from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Briefing.com reports. They currently have a $78.00 price objective on the stock. Sidoti’s price target indicates a potential upside of 3.27% from the stock’s current price.

Several other research firms have also recently commented on TGLS. Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday. B. Riley reissued a “neutral” rating and set a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Robert W. Baird raised their target price on shares of Tecnoglass from $76.00 to $85.00 and gave the company an “outperform” rating in a report on Monday. Stifel Nicolaus boosted their price target on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, DA Davidson increased their price objective on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.33.

Tecnoglass Trading Down 3.3 %

NASDAQ TGLS opened at $75.53 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 21.77 and a beta of 1.86. The firm has a 50 day simple moving average of $65.93 and a 200-day simple moving average of $57.05. Tecnoglass has a one year low of $28.21 and a one year high of $80.51.

Tecnoglass (NASDAQ:TGLS) last issued 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 net margin of 17.97% and a return on equity of 28.12%. The company had revenue of $219.65 million during the quarter, compared to analysts’ expectations of $219.29 million. During the same quarter last year, the company posted $1.12 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Tecnoglass will post 3.44 EPS for the current fiscal year.

Institutional Trading of Tecnoglass

Several institutional investors have recently modified their holdings of the stock. Amalgamated Bank acquired a new stake in Tecnoglass during the 2nd quarter worth $39,000. Signaturefd LLC grew its holdings in shares of Tecnoglass by 4,735.7% during the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after purchasing an additional 663 shares during the last quarter. X Square Capital LLC increased its position in shares of Tecnoglass by 5.7% during the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after purchasing an additional 237 shares in the last quarter. PFG Investments LLC acquired a new stake in shares of Tecnoglass in the 2nd quarter valued at about $220,000. Finally, EntryPoint Capital LLC acquired a new position in Tecnoglass during the first quarter worth approximately $227,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

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.