Tecnoglass (NASDAQ:TGLS) Stock Rating Lowered by B. Riley

B. Riley cut shares of Tecnoglass (NASDAQ:TGLS) from a buy rating to a neutral rating in a research report released on Monday, MarketBeat.com reports. They currently have $69.00 price objective on the stock, up from their prior price objective of $60.00. B. Riley also issued estimates for Tecnoglass’ Q3 2024 earnings at $0.95 EPS, Q4 2024 earnings at $0.94 EPS and FY2024 earnings at $3.41 EPS.

Several other analysts have also issued reports on TGLS. DA Davidson upped their target price on Tecnoglass from $60.00 to $65.00 and gave the stock a buy rating in a research note on Tuesday, August 13th. Robert W. Baird increased their price objective on Tecnoglass from $68.00 to $76.00 and gave the company an outperform rating in a research note on Tuesday, September 17th. Sidoti raised Tecnoglass from a neutral rating to a buy rating and set a $68.00 price objective for the company in a research note on Wednesday, June 26th. Finally, Stifel Nicolaus increased their price objective on Tecnoglass from $50.00 to $59.00 and gave the company a hold rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tecnoglass presently has a consensus rating of Moderate Buy and an average target price of $63.67.

Tecnoglass Trading Down 0.0 %

Shares of Tecnoglass stock opened at $66.75 on Monday. Tecnoglass has a 52-week low of $28.21 and a 52-week high of $69.79. The stock’s 50-day simple moving average is $58.80 and its 200 day simple moving average is $54.16. The stock has a market capitalization of $3.14 billion, a P/E ratio of 19.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The firm had revenue of $219.65 million for the quarter, compared to analysts’ expectations of $219.29 million. During the same period in the prior year, the business posted $1.12 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. As a group, research analysts anticipate that Tecnoglass will post 3.42 EPS for the current year.

Tecnoglass Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is presently 12.68%.

Institutional Investors Weigh In On Tecnoglass

A number of hedge funds have recently modified their holdings of TGLS. William Blair Investment Management LLC grew its position in shares of Tecnoglass by 232.8% during the 1st 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 during the period. Owls Nest Partners IA LLC grew its position in shares of Tecnoglass by 200.1% during the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock valued at $26,410,000 after acquiring an additional 385,265 shares during the period. Ensign Peak Advisors Inc boosted its holdings in Tecnoglass by 219.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after buying an additional 149,933 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Tecnoglass by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after buying an additional 96,602 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Tecnoglass in the 2nd quarter worth $3,929,000. 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.