Tecnoglass (NYSE:TGLS) Hits New 1-Year Low – Time to Sell?

Shares of Tecnoglass Inc. (NYSE:TGLS) reached a new 52-week low on Thursday . The stock traded as low as $42.73 and last traded at $43.66, with a volume of 322683 shares traded. The stock had previously closed at $45.68.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Tecnoglass in a report on Monday, December 22nd. Zacks Research downgraded shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, DA Davidson dropped their price objective on Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a 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 stock. According to MarketBeat, Tecnoglass currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Tecnoglass Trading Down 4.4%

The company has a 50 day simple moving average of $50.80 and a 200 day simple moving average of $56.94. The company has a current ratio of 1.86, a quick ratio of 1.40 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2.03 billion, a PE ratio of 12.78, a P/E/G ratio of 0.54 and a beta of 1.72.

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

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.4%. Tecnoglass’s dividend payout ratio is presently 17.54%.

Institutional Investors Weigh In On Tecnoglass

A number of hedge funds have recently added to or reduced their stakes in TGLS. First Horizon Corp acquired a new position in Tecnoglass during the 3rd quarter worth approximately $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Tecnoglass in the fourth quarter valued at approximately $28,000. Arax Advisory Partners boosted its stake in shares of Tecnoglass by 128.4% in the fourth quarter. Arax Advisory Partners now owns 596 shares of the company’s stock valued at $30,000 after buying an additional 335 shares in the last quarter. Federated Hermes Inc. grew its holdings in Tecnoglass by 290.2% during the third quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock worth $40,000 after acquiring an additional 444 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in Tecnoglass by 223.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock worth $43,000 after acquiring an additional 440 shares in the last quarter. 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.