Tecnoglass downgraded at B. Riley Securities on valuation [Seeking Alpha]
B. Riley Financial, Inc. (RILY)
NASDAQ:AMEX Investor Relations:
ir.brileyfin.com/investor-relations
Company Research
Source: Seeking Alpha
TGLS was trading pre-market at $67.95. "Shares are up more than 50% YTD, vs. the building materials group average of +17% and the S&P 500 +19%. We are adjusting our estimates partly due to the strengthening Colombian peso throughout the quarter. We are also raising our PT from $60 to $69 based on improving the macro environment (lower interest rates)," analysts led by Alex Rygiel and Min Cho said in a research note. "However, we are downgrading TGLS from Buy to Neutral as we believe the current share price fairly reflects the potential outcomes of its ongoing strategic review that should be completed by year-end," the note added. The windows manufacturer had announced a review of strategic alternatives in June. The capital market company said the most likely outcome of the ongoing strategic review is an increase in dividend and a more aggressive organic strategy to expand geographically. B. Riley Securities expects Q3 revenue to be $231M (+10% Y/Y), vs. $240.19M consensus .
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News
- Stifel Financial Mulls Buying Wealth Management Unit From B. Riley [Yahoo! Finance]Yahoo! Finance
- RILY INVESTIGATION ALERT: Johnson Fistel LLP Investigates B. Riley Financial Directors and Officers for Breach of Fiduciary DutiesGlobeNewswire
- B. Riley Securities Advances Capital Structure Advisory Efforts with New Senior HirePR Newswire
- B. Riley gains on report it's in talks to sell wealth management unit to Stifel [Seeking Alpha]Seeking Alpha
- B. Riley broadens coverage on social media stocks with Snap and Reddit initiations [Seeking Alpha]Seeking Alpha
RILY
Sec Filings
- 9/23/24 - Form 8-K
- 8/23/24 - Form 8-K
- 8/16/24 - Form SC
- RILY's page on the SEC website