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

Tecnoglass (NYSE:TGLSGet Free Report) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday, Zacks reports.

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

Get Our Latest Research Report on Tecnoglass

Tecnoglass Price Performance

TGLS stock opened at $37.05 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.86 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average of $41.65 and a 200-day moving average of $42.77. Tecnoglass has a 12-month low of $35.31 and a 12-month high of $70.48.

Tecnoglass (NYSE:TGLSGet Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Tecnoglass had a return on equity of 17.84% and a net margin of 12.35%.The business had revenue of $295.29 million for the quarter. During the same quarter last year, the business posted $1.03 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. On average, sell-side analysts predict that Tecnoglass will post 2.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tecnoglass

Institutional investors have recently bought and sold shares of the company. AXQ Capital LP purchased a new stake in Tecnoglass in the 2nd quarter worth about $301,000. Parallel Advisors LLC boosted its position in Tecnoglass by 444.0% during the first quarter. Parallel Advisors LLC now owns 952 shares of the company’s stock worth $42,000 after purchasing an additional 777 shares during the period. Bank of America Corp DE boosted its position in Tecnoglass by 9.1% during the first 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 during the period. Quantinno Capital Management LP increased its stake in shares of Tecnoglass by 30.9% in the first quarter. Quantinno Capital Management LP now owns 12,743 shares of the company’s stock worth $568,000 after purchasing an additional 3,009 shares in the last quarter. Finally, SummitTX Capital L.P. purchased a new position in shares of Tecnoglass in the first quarter worth about $496,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Tecnoglass Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Tecnoglass (NYSE:TGLS)

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