BidaskClub Downgrades Tecnoglass (NASDAQ:TGLS) to Sell

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.

Several other research analysts have also recently commented on TGLS. Zacks Investment Research upgraded shares of Tecnoglass from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a report on Tuesday, August 13th. Raymond James raised shares of Tecnoglass from an “outperform” rating to a “strong-buy” rating and set a $10.00 price objective on the stock in a research report on Monday, July 1st. Goldman Sachs Group assumed coverage on shares of Tecnoglass in a research report on Thursday, May 9th. They issued a “buy” rating on the stock. Robert W. Baird set a $11.00 price target on shares of Tecnoglass and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, DA Davidson initiated coverage on shares of Tecnoglass in a research report on Thursday, May 30th. They set a “buy” rating and a $9.00 price target on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $10.71.

Shares of TGLS stock opened at $7.24 on Wednesday. Tecnoglass has a 1 year low of $6.08 and a 1 year high of $10.08. The firm’s 50 day moving average is $7.23 and its 200-day moving average is $7.34. The firm has a market capitalization of $326.58 million, a price-to-earnings ratio of 8.52, a PEG ratio of 0.42 and a beta of 0.99. The company has a current ratio of 2.41, a quick ratio of 1.75 and a debt-to-equity ratio of 1.38.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. Tecnoglass had a net margin of 4.04% and a return on equity of 21.77%. The business had revenue of $113.88 million during the quarter, compared to the consensus estimate of $97.53 million. On average, equities research analysts forecast that Tecnoglass will post 0.75 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. bought a new stake in Tecnoglass during the 2nd quarter valued at approximately $69,000. Northern Trust Corp raised its stake in Tecnoglass by 39.6% during 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 during the period. Pinnacle Associates Ltd. bought a new stake in Tecnoglass during the 1st quarter valued at approximately $256,000. First Manhattan Co. bought a new stake in Tecnoglass during the 2nd quarter valued at approximately $243,000. Finally, Shepherd Kaplan Krochuk LLC raised its stake in Tecnoglass by 90.0% during the 2nd quarter. Shepherd Kaplan Krochuk LLC now owns 38,000 shares of the company’s stock valued at $247,000 after purchasing an additional 18,000 shares during the period. 13.50% of the stock is currently owned by hedge funds and other institutional investors.

About Tecnoglass

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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