Tecnoglass (NYSE:TGLS) Sets New 12-Month Low - Time to Sell?

Key Points

• Tecnoglass shares hit a new 52-week low, trading as low as $34.17 and closing around $34.88, below both their 50-day and 200-day moving averages.
• Analyst sentiment is mixed but has weakened: Zacks Research downgraded the stock to “strong sell” and Weiss Ratings moved it to “sell.” The consensus rating remains “Hold,” with a target price of $63.33.
• The company reported quarterly EPS of $0.54, beating estimates, while revenue rose 15.6% year over year to $295.29 million. Tecnoglass also declared a quarterly dividend of $0.15 per share, equivalent to a 1.7% annualized yield.

Tecnoglass Inc. (NYSE:TGLS - Get Free Report) reached a new 52-week low during mid-day trading on Monday. The company traded as low as $34.17 and last traded at $34.8790, with a volume of 49986 shares traded. The stock had previously closed at $35.44.

Analysts Set New Price Targets

TGLS has been the subject of several research reports. Zacks Research lowered shares of Tecnoglass from a "hold" rating to a "strong sell" rating in a research report on Monday, September 21st. Weiss Ratings cut Tecnoglass from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, September 17th. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Tecnoglass currently has a consensus rating of "Hold" and a consensus target price of $63.33.

Tecnoglass Stock Down 1.9%

The company has a current ratio of 1.86, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28. The stock has a 50 day simple moving average of $40.98 and a 200 day simple moving average of $42.61. The firm has a market capitalization of $1.54 billion and a PE ratio of 12.24.

Tecnoglass (NYSE:TGLS - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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 for the quarter. During the same period last year, the business earned $1.03 EPS. Tecnoglass's revenue was up 15.6% on a year-over-year basis. As a group, sell-side analysts forecast that Tecnoglass Inc. will post 2.57 earnings per share for the current year.

Tecnoglass Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Wednesday, September 30th. Tecnoglass's payout ratio is currently 21.13%.

Institutional Investors Weigh In On Tecnoglass

Several institutional investors and hedge funds have recently bought and sold shares of TGLS. Parallel Advisors LLC increased its stake in shares of 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 period. Rockefeller Capital Management L.P. lifted its stake 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. State of Wyoming boosted its holdings in Tecnoglass by 53.1% in the first quarter. State of Wyoming now owns 1,415 shares of the company's stock valued at $63,000 after acquiring an additional 491 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Tecnoglass by 19.1% in the fourth quarter. ProShare Advisors LLC now owns 4,958 shares of the company's stock valued at $249,000 after acquiring an additional 796 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in Tecnoglass during the 1st quarter valued at $242,000. Hedge funds and other institutional investors own 37.35% of the company's stock.

About Tecnoglass

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.

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