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

Tecnoglass (NYSE:TGLS) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday, Zacks reports.

Separately, Weiss Ratings cut shares of Tecnoglass from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, September 17th. Three equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.33.

Tecnoglass Stock Up 1.6%

Shares of NYSE TGLS opened at $37.05 on Monday. Tecnoglass has a one year low of $35.31 and a one year high of $70.48. The company has a current ratio of 1.86, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28. The firm’s 50 day simple moving average is $41.65 and its two-hundred day simple moving average is $42.77.

Tecnoglass (NYSE:TGLS) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Tecnoglass had a net margin of 12.35% and a return on equity of 17.84%. The firm had revenue of $295.29 million during the quarter. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company’s revenue was up 15.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tecnoglass will post 2.57 EPS for the current year.

Hedge Funds Weigh In On Tecnoglass

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in Tecnoglass by 15.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,243,496 shares of the company’s stock worth $55,395,000 after acquiring an additional 161,955 shares during the period. Fourth Sail Capital LP purchased a new position in Tecnoglass during the 4th quarter valued at $17,461,000. Bank of America Corp DE raised its holdings in Tecnoglass by 9.1% in the 1st quarter. Bank of America Corp DE now owns 162,777 shares of the company’s stock worth $7,252,000 after purchasing an additional 13,516 shares in the last quarter. CenterBook Partners LP raised its holdings in Tecnoglass by 64.2% in the 4th quarter. CenterBook Partners LP now owns 130,761 shares of the company’s stock worth $6,580,000 after purchasing an additional 51,145 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of Tecnoglass by 263.3% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 76,300 shares of the company’s stock worth $3,839,000 after purchasing an additional 55,300 shares during the period. 37.35% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Company Profile

Tecnoglass Inc is a manufacturer of architectural glass, windows and aluminum products for residential and commercial construction. The company produces impact-resistant and non-impact windows and doors, insulated and laminated glass, curtain-wall systems, storefronts, and aluminum profiles and framing systems.

Founded in 1994, Tecnoglass is headquartered in Barranquilla, Colombia, where it operates a vertically integrated manufacturing platform. Its products are used in new construction and renovation projects, including high-rise buildings, multifamily housing, commercial properties and single-family homes.

Tecnoglass serves customers primarily in the United States, as well as in Colombia and other international markets across Latin America and the Caribbean.