Zacks Research Downgrades Tecnoglass (NYSE:TGLS) to Strong Sell

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

A number of other research analysts also recently issued reports on TGLS. Weiss Ratings reiterated a “hold (c)” rating on shares of Tecnoglass in a report on Monday, December 22nd. DA Davidson lowered their price target on shares of 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Tecnoglass Stock Up 1.7%

Shares of NYSE:TGLS opened at $45.90 on Monday. Tecnoglass has a 52-week low of $43.09 and a 52-week high of $90.34. The stock has a market cap of $2.14 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 0.53 and a beta of 1.72. The business’s 50 day moving average is $50.93 and its 200 day moving average is $57.02. The company has a quick ratio of 1.40, a current ratio of 1.98 and a debt-to-equity ratio of 0.15.

Tecnoglass (NYSE:TGLS) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.21). Tecnoglass had a return on equity of 22.93% and a net margin of 16.22%.The business had revenue of $245.30 million during the quarter. During the same period in the previous year, the business posted $1.05 earnings per share. Tecnoglass’s revenue for the quarter was up 3.0% compared to the same quarter last year.

Hedge Funds Weigh In On Tecnoglass

A number of institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. lifted its position in Tecnoglass by 5.7% during the second quarter. Ameritas Investment Partners Inc. now owns 2,485 shares of the company’s stock valued at $192,000 after purchasing an additional 135 shares during the period. Royal Bank of Canada grew its stake in shares of Tecnoglass by 8.3% during 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 during the period. Blue Chip Partners LLC boosted its holdings in Tecnoglass by 6.3% during the fourth quarter. Blue Chip Partners LLC now owns 4,250 shares of the company’s stock worth $214,000 after buying an additional 250 shares in the last quarter. First Horizon Corp boosted its holdings in Tecnoglass by 63.3% during the fourth quarter. First Horizon Corp now owns 673 shares of the company’s stock worth $34,000 after buying an additional 261 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Tecnoglass by 2.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 12,459 shares of the company’s stock worth $627,000 after acquiring an additional 295 shares in the last quarter. 37.35% of the stock is owned by hedge funds and other institutional investors.

Tecnoglass Company Profile

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.