Tecnoglass (TGLS) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Tecnoglass (NASDAQ:TGLS) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “Tecnoglass, Inc. is engaged in manufacturing and selling architectural glass and windows and aluminum products for the residential and commercial construction industries. It operates primarily in North, Central and South America. Tecnoglass, Inc., formerly known as Andina Acquisition Corporation, is headquartered in Barranquilla, Colombia. “

TGLS has been the topic of several other reports. BidaskClub downgraded shares of Tecnoglass from a sell rating to a strong sell rating in a research note on Thursday, April 26th. ValuEngine raised shares of Tecnoglass from a hold rating to a buy rating in a research note on Monday, April 2nd. Finally, B. Riley assumed coverage on shares of Tecnoglass in a research note on Tuesday, March 6th. They set a buy rating and a $11.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $10.50.

Shares of TGLS opened at $8.80 on Tuesday. Tecnoglass has a fifty-two week low of $5.50 and a fifty-two week high of $10.93. The company has a market cap of $310.99 million, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 0.74 and a beta of 0.64. The company has a current ratio of 2.23, a quick ratio of 1.58 and a debt-to-equity ratio of 1.57.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Wednesday, May 9th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Tecnoglass had a return on equity of 11.82% and a net margin of 4.48%. The business had revenue of $84.89 million for the quarter, compared to analysts’ expectations of $84.18 million. research analysts forecast that Tecnoglass will post 0.6 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Thursday, March 29th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend was Wednesday, March 28th. This is a boost from Tecnoglass’s previous quarterly dividend of $0.13. Tecnoglass’s payout ratio is 175.00%.

An institutional investor recently bought a new position in Tecnoglass stock. Covey Capital Advisors LLC purchased a new position in shares of Tecnoglass (NASDAQ:TGLS) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,625 shares of the company’s stock, valued at approximately $100,000. 4.98% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Company Profile

Tecnoglass Inc, through its subsidiaries, manufactures and sells architectural glass, windows, and associated aluminum products for the global commercial and residential construction industries in North, Central, and South America. It offers soft coat, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass.

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