Tecnoglass (NYSE:TGLS) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Tecnoglass (NYSE:TGLS) from a hold rating to a strong sell rating in a report published on Monday,Zacks.com reports.

Several other research firms have also commented on TGLS. Weiss Ratings reissued a “hold (c)” rating on shares of Tecnoglass in a report on Monday, December 22nd. DA Davidson reduced their price target on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Tecnoglass Price Performance

Shares of NYSE TGLS opened at $45.66 on Monday. The business has a fifty day moving average price of $50.80 and a two-hundred day moving average price of $56.94. The stock has a market capitalization of $2.04 billion, a PE ratio of 13.35, a P/E/G ratio of 0.54 and a beta of 1.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.40. Tecnoglass has a fifty-two week low of $43.09 and a fifty-two week high of $90.34.

Tecnoglass (NYSE:TGLS) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.21). The company had revenue of $245.30 million during the quarter. Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 EPS.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.3%. Tecnoglass’s dividend payout ratio is 17.54%.

Institutional Investors Weigh In On Tecnoglass

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in Tecnoglass by 8.3% in the 1st quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock worth $224,000 after purchasing an additional 238 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Tecnoglass by 25.8% during the first quarter. AQR Capital Management LLC now owns 3,505 shares of the company’s stock worth $251,000 after purchasing an additional 719 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Tecnoglass by 21.4% in the first quarter. Intech Investment Management LLC now owns 17,918 shares of the company’s stock valued at $1,282,000 after buying an additional 3,161 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Tecnoglass in the second quarter valued at approximately $293,000. Finally, Los Angeles Capital Management LLC bought a new position in Tecnoglass in the 2nd quarter valued at approximately $338,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.