Tecnoglass (NASDAQ:TGLS) Downgraded to Neutral at B. Riley

by · The Markets Daily

B. Riley downgraded shares of Tecnoglass (NASDAQ:TGLS – Free Report) from a buy rating to a neutral rating in a report published on Monday, MarketBeat reports. The firm currently has $69.00 price target on the stock, up from their prior price target 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. Robert W. Baird upped their target price on shares of Tecnoglass from $68.00 to $76.00 and gave the stock an outperform rating in a research note on Tuesday, September 17th. Stifel Nicolaus lifted their target price on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a hold rating in a research report on Friday, August 9th. Sidoti raised Tecnoglass from a neutral rating to a buy rating and set a $68.00 price target for the company in a research report on Wednesday, June 26th. Finally, DA Davidson boosted their price objective on Tecnoglass from $60.00 to $65.00 and gave the stock a buy rating in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $63.67.

Get Our Latest Report on Tecnoglass

Tecnoglass Stock Performance

Tecnoglass stock opened at $67.67 on Monday. The business has a 50 day moving average of $59.10 and a 200-day moving average of $54.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80. Tecnoglass has a 1 year low of $28.21 and a 1 year high of $69.79. The company has a market capitalization of $3.18 billion, a P/E ratio of 19.50 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The company had revenue of $219.65 million for the quarter, compared to the consensus estimate of $219.29 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. On average, equities research analysts predict that Tecnoglass will post 3.42 earnings per share for the current year.

Tecnoglass Announces Dividend

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 dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.44 annualized dividend and a yield of 0.65%. Tecnoglass’s payout ratio is 12.68%.

Institutional Investors Weigh In On Tecnoglass

Several institutional investors have recently added to or reduced their stakes in TGLS. Wellington Management Group LLP lifted its holdings in Tecnoglass by 5.6% in the 4th quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock worth $19,248,000 after buying an additional 22,169 shares during the period. Capstone Investment Advisors LLC boosted its holdings in Tecnoglass by 57.5% in the first quarter. Capstone Investment Advisors LLC now owns 47,368 shares of the company’s stock valued at $2,465,000 after acquiring an additional 17,292 shares in the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new position in Tecnoglass during the 1st quarter valued at $2,074,000. Commonwealth Equity Services LLC raised its holdings in Tecnoglass by 295.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 20,630 shares of the company’s stock worth $1,073,000 after purchasing an additional 15,414 shares in the last quarter. Finally, Owls Nest Partners IA LLC lifted its position in shares of Tecnoglass by 200.1% in the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock worth $26,410,000 after purchasing an additional 385,265 shares during the period. Hedge funds and other institutional investors own 37.35% of the company’s stock.

About Tecnoglass

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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.

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