Tecnoglass (NASDAQ:TGLS) Upgraded to “Buy” at Sidoti

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

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

Tecnoglass Price Performance

TGLS stock opened at $49.43 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 2.33 and a debt-to-equity ratio of 0.27. Tecnoglass has a 12 month low of $28.21 and a 12 month high of $59.76. The firm has a market cap of $2.32 billion, a P/E ratio of 14.24 and a beta of 1.79. The company’s 50-day moving average price is $51.13 and its two-hundred day moving average price is $48.51.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $192.09 million for the quarter, compared to the consensus estimate of $191.04 million. Tecnoglass had a net margin of 19.97% and a return on equity of 31.85%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. On average, analysts anticipate that Tecnoglass will post 3.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. American Century Companies Inc. raised its holdings in Tecnoglass by 84.6% during the third quarter. American Century Companies Inc. now owns 2,105,685 shares of the company’s stock worth $69,403,000 after buying an additional 965,316 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Tecnoglass by 232.8% during the first quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock worth $84,017,000 after buying an additional 1,129,603 shares during the last quarter. Cooke & Bieler LP grew its stake in shares of Tecnoglass by 35.8% in the 4th quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock worth $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% in the 1st quarter. Polaris Capital Management LLC now owns 902,064 shares of the company’s stock worth $46,934,000 after acquiring an additional 5,300 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Tecnoglass by 58.8% in the 4th quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock worth $37,288,000 after acquiring an additional 302,163 shares in the last quarter. Institutional investors and hedge funds 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.