Tecnoglass (NYSE:TGLS) Cut to “Strong Sell” at Zacks Research

Tecnoglass (NYSE:TGLS) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday, Zacks reports.

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

Tecnoglass Price Performance

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

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State of Wyoming boosted its holdings in shares of Tecnoglass by 53.1% in the first quarter. State of Wyoming now owns 1,415 shares of the company’s stock worth $63,000 after buying an additional 491 shares during the last quarter. X Square Capital LLC grew its position in Tecnoglass by 6.9% during the fourth quarter. X Square Capital LLC now owns 7,764 shares of the company’s stock valued at $391,000 after buying an additional 501 shares during the period. Parallel Advisors LLC increased its holdings in Tecnoglass by 444.0% during the first quarter. Parallel Advisors LLC now owns 952 shares of the company’s stock valued at $42,000 after buying an additional 777 shares during the last quarter. ProShare Advisors LLC increased its holdings in Tecnoglass by 19.1% during the fourth quarter. ProShare Advisors LLC now owns 4,958 shares of the company’s stock valued at $249,000 after buying an additional 796 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in Tecnoglass by 276.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,359 shares of the company’s stock worth $68,000 after acquiring an additional 998 shares during the period. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Company Profile

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.