Tecnoglass (TGLS) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Tecnoglass (NASDAQ:TGLS) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “Tecnoglass, Inc. is engaged in manufacturing and selling architectural glass and windows and aluminum products for the residential and commercial construction industries. It operates primarily in North, Central and South America. Tecnoglass, Inc., formerly known as Andina Acquisition Corporation, is headquartered in Barranquilla, Colombia. “

TGLS has been the subject of several other reports. Dougherty & Co set a $13.00 price target on shares of Tecnoglass and gave the company a buy rating in a report on Thursday, November 8th. BidaskClub raised shares of Tecnoglass from a sell rating to a hold rating in a report on Saturday, November 10th. ValuEngine downgraded shares of Tecnoglass from a buy rating to a hold rating in a report on Friday, November 2nd. Finally, B. Riley lifted their price target on shares of Tecnoglass from $12.50 to $13.00 and gave the company a buy rating in a report on Thursday, November 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $11.83.

TGLS stock traded up $0.21 during trading on Wednesday, hitting $8.76. 527 shares of the stock traded hands, compared to its average volume of 15,591. Tecnoglass has a one year low of $7.36 and a one year high of $10.29. The company has a market capitalization of $320.88 million, a P/E ratio of 27.38, a P/E/G ratio of 0.56 and a beta of 1.30. The company has a quick ratio of 1.78, a current ratio of 2.59 and a debt-to-equity ratio of 1.49.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings results on Wednesday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.07. Tecnoglass had a net margin of 3.99% and a return on equity of 17.99%. The firm had revenue of $96.99 million during the quarter, compared to the consensus estimate of $93.87 million. As a group, research analysts expect that Tecnoglass will post 0.75 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, January 31st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date is Wednesday, January 30th. Tecnoglass’s dividend payout ratio is presently 175.00%.

A hedge fund recently bought a new stake in Tecnoglass stock. Crestline Management LP bought a new position in Tecnoglass Inc (NASDAQ:TGLS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 56,210 shares of the company’s stock, valued at approximately $553,000. Crestline Management LP owned about 0.15% of Tecnoglass at the end of the most recent quarter. Institutional investors own 3.93% 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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