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

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

Other equities research analysts have also issued research reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Tecnoglass in a research report on Monday, December 22nd. DA Davidson decreased their price target on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.00.

Tecnoglass Price Performance

Shares of NYSE TGLS opened at $45.90 on Monday. The firm has a market cap of $2.14 billion, a PE ratio of 13.42, a PEG ratio of 0.53 and a beta of 1.72. The company has a current ratio of 1.98, a quick ratio of 1.40 and a debt-to-equity ratio of 0.15. Tecnoglass has a 1-year low of $43.09 and a 1-year high of $90.34. The company has a fifty day moving average price of $50.93 and a 200 day moving average price of $57.02.

Tecnoglass (NYSE:TGLS) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.21). The firm had revenue of $245.30 million during the quarter. Tecnoglass had a net margin of 16.22% and a return on equity of 22.93%. Tecnoglass’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $1.05 earnings per share.

Hedge Funds Weigh In On Tecnoglass

A number of institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in Tecnoglass by 2.6% in the fourth quarter. Invesco Ltd. now owns 33,225 shares of the company’s stock valued at $1,672,000 after acquiring an additional 827 shares during the last quarter. Blue Chip Partners LLC increased its stake in shares of Tecnoglass by 6.3% during the 4th quarter. Blue Chip Partners LLC now owns 4,250 shares of the company’s stock worth $214,000 after purchasing an additional 250 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Tecnoglass in the 4th quarter valued at about $49,000. XTX Topco Ltd acquired a new stake in Tecnoglass in the 4th quarter valued at about $3,023,000. Finally, one8zero8 LLC lifted its stake in Tecnoglass by 3.8% in the 4th quarter. one8zero8 LLC now owns 96,376 shares of the company’s stock valued at $4,850,000 after purchasing an additional 3,570 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors and hedge funds.

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.