Tecnoglass (TGLS) Downgraded by BidaskClub to Sell

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BidaskClub downgraded shares of Tecnoglass (NASDAQ:TGLS) from a hold rating to a sell rating in a research report released on Thursday morning.

Other equities analysts have also issued research reports about the company. ValuEngine upgraded Tecnoglass from a hold rating to a buy rating in a research note on Thursday, November 8th. Zacks Investment Research upgraded Tecnoglass from a hold rating to a buy rating and set a $9.50 price target for the company in a research note on Saturday, February 2nd. B. Riley lifted their price target on Tecnoglass from $12.50 to $13.00 and gave the company a buy rating in a research note on Thursday, November 8th. Finally, Dougherty & Co set a $13.00 price target on Tecnoglass and gave the company a buy rating in a research note on Thursday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $11.75.

NASDAQ TGLS opened at $8.42 on Thursday. The stock has a market cap of $316.04 million, a price-to-earnings ratio of 26.31, a P/E/G ratio of 0.55 and a beta of 1.30. Tecnoglass has a fifty-two week low of $7.36 and a fifty-two week high of $10.29. The company has a quick ratio of 1.78, a current ratio of 2.59 and a debt-to-equity ratio of 1.49.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Thursday, January 31st will be paid a $0.14 dividend. The ex-dividend date is Wednesday, January 30th. This represents a $0.56 annualized dividend and a dividend yield of 6.65%. Tecnoglass’s dividend payout ratio is presently 175.00%.

In related news, Director Martha L. Byorum sold 5,994 shares of Tecnoglass stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $8.46, for a total value of $50,709.24. Following the completion of the transaction, the director now owns 79,764 shares in the company, valued at approximately $674,803.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.90% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in TGLS. BlackRock Inc. increased its stake in shares of Tecnoglass by 8,803.0% in the 4th quarter. BlackRock Inc. now owns 53,863 shares of the company’s stock valued at $435,000 after purchasing an additional 53,258 shares in the last quarter. Crestline Management LP purchased a new position in shares of Tecnoglass in the 3rd quarter valued at about $553,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Tecnoglass in the 4th quarter valued at about $687,000. California Public Employees Retirement System increased its stake in shares of Tecnoglass by 1.7% in the 4th quarter. California Public Employees Retirement System now owns 89,222 shares of the company’s stock valued at $720,000 after purchasing an additional 1,496 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Tecnoglass by 117.1% in the 3rd quarter. Renaissance Technologies LLC now owns 95,794 shares of the company’s stock valued at $942,000 after purchasing an additional 51,671 shares in the last quarter. Hedge funds and other institutional investors own 3.87% of the company’s stock.

About Tecnoglass

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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