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

Zacks Research cut shares of Tecnoglass (NYSE:TGLS) from a hold rating to a strong sell rating in a report published on Monday morning,Zacks reports.

Separately, Weiss Ratings cut shares of Tecnoglass from a “hold (c-)” rating to a “sell (d+)” rating in a 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. According to data from MarketBeat.com, Tecnoglass currently has an average rating of “Hold” and a consensus price target of $63.33.

Tecnoglass Stock Performance

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

Tecnoglass (NYSE:TGLS) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. Tecnoglass had a net margin of 12.35% and a return on equity of 17.84%. The firm had revenue of $295.29 million for the quarter. During the same period last year, the company posted $1.03 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts expect that Tecnoglass will post 2.57 earnings per share for the current fiscal year.

Tecnoglass Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.6%. Tecnoglass’s payout ratio is currently 21.13%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in shares of Tecnoglass by 15.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,243,496 shares of the company’s stock valued at $55,395,000 after buying an additional 161,955 shares during the period. Fourth Sail Capital LP acquired a new position in Tecnoglass in the 4th quarter valued at $17,461,000. Bank of America Corp DE lifted its position in shares of Tecnoglass by 9.1% during the 1st quarter. Bank of America Corp DE now owns 162,777 shares of the company’s stock valued at $7,252,000 after acquiring an additional 13,516 shares during the period. CenterBook Partners LP lifted its position in shares of Tecnoglass by 64.2% during the 4th quarter. CenterBook Partners LP now owns 130,761 shares of the company’s stock valued at $6,580,000 after acquiring an additional 51,145 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of Tecnoglass by 263.3% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 76,300 shares of the company’s stock worth $3,839,000 after purchasing an additional 55,300 shares in the last quarter. 37.35% of the stock is owned by institutional investors.

About Tecnoglass

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.