Tecnoglass (NASDAQ:TGLS) Downgraded to Sell at BidaskClub

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Tecnoglass (NASDAQ:TGLS) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, BidAskClub reports.

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

Tecnoglass stock traded up $0.06 during trading hours on Wednesday, reaching $7.87. 310 shares of the stock were exchanged, compared to its average volume of 72,852. The stock has a market cap of $354.14 million, a P/E ratio of 9.26, a P/E/G ratio of 0.49 and a beta of 1.00. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.78 and a current ratio of 2.41. Tecnoglass has a 52-week low of $6.08 and a 52-week high of $10.08. The firm’s 50 day moving average is $8.04 and its 200 day moving average is $7.33.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Monarch Partners Asset Management LLC increased its holdings in shares of Tecnoglass by 2.0% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 104,539 shares of the company’s stock valued at $678,000 after purchasing an additional 2,029 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Tecnoglass by 259.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,243 shares of the company’s stock valued at $26,000 after purchasing an additional 2,341 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Tecnoglass by 8.5% in the 3rd quarter. California Public Employees Retirement System now owns 101,938 shares of the company’s stock valued at $829,000 after purchasing an additional 8,020 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Tecnoglass by 20.6% in the 2nd quarter. BlackRock Inc. now owns 54,742 shares of the company’s stock valued at $356,000 after purchasing an additional 9,357 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Tecnoglass by 39.6% in the 2nd quarter. Northern Trust Corp now owns 33,415 shares of the company’s stock valued at $217,000 after purchasing an additional 9,484 shares in the last quarter. Institutional investors and hedge funds 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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