B. Riley Reiterates Buy Rating for Tecnoglass (NASDAQ:TGLS)

B. Riley reiterated their buy rating on shares of Tecnoglass (NASDAQ:TGLS - Free Report) in a report released on Friday morning, Benzinga reports. B. Riley currently has a $60.00 target price on the stock, down from their previous target price of $65.00.

A number of other research firms have also recently commented on TGLS. Robert W. Baird dropped their price objective on Tecnoglass from $65.00 to $64.00 and set an outperform rating for the company in a research report on Tuesday. DA Davidson reaffirmed a buy rating and issued a $50.00 price objective on shares of Tecnoglass in a research note on Monday, March 4th. Stifel Nicolaus downgraded Tecnoglass from a buy rating to a hold rating and lowered their price target for the company from $48.00 to $45.00 in a report on Wednesday, February 14th. Finally, Sidoti downgraded shares of Tecnoglass from a buy rating to a neutral rating and upped their target price for the company from $56.00 to $59.00 in a research note on Wednesday, May 1st. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $53.83.

Tecnoglass Price Performance

Tecnoglass stock traded up $0.86 during mid-day trading on Friday, reaching $52.53. The company had a trading volume of 342,122 shares, compared to its average volume of 353,361. The stock's 50-day simple moving average is $52.03 and its 200-day simple moving average is $44.73. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.27 and a quick ratio of 1.60. The company has a market capitalization of $2.47 billion, a P/E ratio of 13.65 and a beta of 1.79. Tecnoglass has a 1 year low of $28.21 and a 1 year high of $59.76.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released 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 firm had revenue of $192.09 million for the quarter, compared to analyst estimates of $191.04 million. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. The company's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.08 EPS. On average, equities analysts predict that Tecnoglass will post 3.7 EPS for the current year.

Tecnoglass Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Tecnoglass's previous quarterly dividend of $0.09. Tecnoglass's dividend payout ratio is 11.43%.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors have recently made changes to their positions in the company. Qube Research & Technologies Ltd boosted its holdings in Tecnoglass by 82.6% in the third quarter. Qube Research & Technologies Ltd now owns 183,119 shares of the company's stock worth $6,036,000 after purchasing an additional 82,833 shares during the period. Wellington Management Group LLP raised its stake in Tecnoglass by 21.6% during the third quarter. Wellington Management Group LLP now owns 398,917 shares of the company's stock worth $13,148,000 after acquiring an additional 70,900 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Tecnoglass by 58.8% during the fourth quarter. Victory Capital Management Inc. now owns 815,756 shares of the company's stock valued at $37,288,000 after purchasing an additional 302,163 shares during the last quarter. Impax Asset Management Group plc acquired a new stake in shares of Tecnoglass during the 3rd quarter worth approximately $3,296,000. Finally, Seven Eight Capital LP lifted its holdings in shares of Tecnoglass by 207.6% in the 3rd quarter. Seven Eight Capital LP now owns 37,663 shares of the company's stock worth $1,241,000 after purchasing an additional 25,420 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors.

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.