BidaskClub Downgrades Tecnoglass (NASDAQ:TGLS) to Sell

BidaskClub cut shares of Tecnoglass (NASDAQ:TGLS) from a hold rating to a sell rating in a research note published on Wednesday, BidAskClub reports.

Several other research analysts also recently issued reports on TGLS. Robert W. Baird set a $11.00 target price on shares of Tecnoglass and gave the stock a buy rating in a research note on Monday, August 12th. ValuEngine downgraded shares of Tecnoglass from a sell rating to a strong sell rating in a research note on Monday, November 4th. DA Davidson downgraded shares of Tecnoglass from a buy rating to a neutral rating in a research note on Thursday, November 7th. Dougherty & Co reiterated a buy rating on shares of Tecnoglass in a research note on Thursday, August 22nd. Finally, Zacks Investment Research downgraded shares of Tecnoglass from a buy rating to a hold rating in a research note on Saturday, November 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $9.69.

NASDAQ:TGLS traded down $0.11 during mid-day trading on Wednesday, hitting $7.81. 69,400 shares of the company’s stock were exchanged, compared to its average volume of 64,433. Tecnoglass has a one year low of $6.08 and a one year high of $10.08. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.41 and a quick ratio of 1.78. The business has a fifty day moving average price of $8.04 and a 200 day moving average price of $7.33. The company has a market cap of $357.33 million, a PE ratio of 9.24, a P/E/G ratio of 0.49 and a beta of 1.00.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Tecnoglass had a return on equity of 20.39% and a net margin of 2.18%. The business had revenue of $108.47 million for the quarter, compared to the consensus estimate of $102.95 million. On average, equities analysts forecast that Tecnoglass will post 0.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.56 annualized dividend and a dividend yield of 7.17%. Tecnoglass’s dividend payout ratio is presently 65.88%.

Several hedge funds and other institutional investors have recently modified their holdings of TGLS. Penn Capital Management Co. Inc. bought a new position in shares of Tecnoglass in the second quarter worth approximately $1,616,000. Rutabaga Capital Management LLC MA lifted its position in Tecnoglass by 11.9% during the second quarter. Rutabaga Capital Management LLC MA now owns 740,547 shares of the company’s stock valued at $4,806,000 after purchasing an additional 78,495 shares during the period. Vanguard Group Inc. lifted its position in Tecnoglass by 37.4% during the second quarter. Vanguard Group Inc. now owns 279,955 shares of the company’s stock valued at $1,817,000 after purchasing an additional 76,232 shares during the period. Monarch Partners Asset Management LLC lifted its position in Tecnoglass by 42.9% during the third quarter. Monarch Partners Asset Management LLC now owns 149,394 shares of the company’s stock valued at $1,215,000 after purchasing an additional 44,855 shares during the period. Finally, National Investment Services Inc. WI lifted its position in Tecnoglass by 72.6% during the second quarter. National Investment Services Inc. WI now owns 104,936 shares of the company’s stock valued at $681,000 after purchasing an additional 44,140 shares during the period. Hedge funds and other institutional investors own 12.92% of the company’s stock.

Tecnoglass Company Profile

Tecnoglass Inc, through its subsidiaries, manufactures, supplies, and installs architectural glass, windows, and associated aluminum products for the commercial and residential construction industries in North, Central, and South America. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.

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Analyst Recommendations for Tecnoglass (NASDAQ:TGLS)

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