Tecnoglass (NYSE:TGLS) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Tecnoglass (NYSE:TGLS) from a strong sell rating to a hold rating in a research report released on Tuesday morning,Zacks reports.

Separately, Weiss Ratings raised shares of Tecnoglass from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

Tecnoglass Price Performance

Shares of TGLS stock opened at $37.64 on Tuesday. The company has a market capitalization of $1.67 billion and a PE ratio of 13.25. The firm has a fifty day simple moving average of $38.10 and a 200-day simple moving average of $41.79. The company has a current ratio of 1.86, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28. Tecnoglass has a twelve month low of $34.05 and a twelve month high of $61.35.

Tecnoglass (NYSE:TGLS) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Tecnoglass had a net margin of 12.35% and a return on equity of 17.84%. The business had revenue of $295.29 million during the quarter. During the same period in the previous year, the business posted $1.03 earnings per share. Tecnoglass’s revenue for the quarter was up 15.6% on a year-over-year basis. Equities research analysts anticipate that Tecnoglass will post 2.57 earnings per share for the current fiscal year.

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Wednesday, September 30th. Tecnoglass’s dividend payout ratio is 21.13%.

Institutional Investors Weigh In On Tecnoglass

Several hedge funds and other institutional investors have recently modified their holdings of TGLS. Weiss Asset Management LP bought a new position in shares of Tecnoglass during the first quarter worth about $1,656,000. Dimensional Fund Advisors LP increased its holdings in Tecnoglass by 15.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,243,496 shares of the company’s stock valued at $55,395,000 after buying an additional 161,955 shares during the last quarter. Bank of America Corp DE increased its holdings in Tecnoglass by 9.1% in the first quarter. Bank of America Corp DE now owns 162,777 shares of the company’s stock valued at $7,252,000 after buying an additional 13,516 shares during the last quarter. Parallel Advisors LLC increased its holdings in Tecnoglass by 444.0% in 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. Finally, Bank of New York Mellon Corp raised its stake in Tecnoglass by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 73,522 shares of the company’s stock valued at $3,275,000 after buying an additional 3,880 shares in the last quarter. Institutional investors own 37.35% of the company’s stock.

About Tecnoglass

Tecnoglass Inc (NYSE:TGLS) is a manufacturer of architectural glass, windows and aluminum products for residential and commercial construction. The company produces impact- and non-impact-resistant windows and doors, insulated and laminated glass, curtain wall systems, storefronts, railings and related architectural components.

Founded in 1994, Tecnoglass is headquartered in Barranquilla, Colombia, where it operates integrated manufacturing facilities serving the building-products market.