Zacks Research Upgrades Tecnoglass (NYSE:TGLS) to “Hold”

by · The Markets Daily

Tecnoglass (NYSE:TGLS – Get Free Report) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

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

Check Out Our Latest Analysis on TGLS

Tecnoglass Trading Down 1.5%

Shares of TGLS opened at $37.64 on Tuesday. Tecnoglass has a 52-week low of $34.05 and a 52-week high of $61.35. The stock has a market cap of $1.67 billion and a PE ratio of 13.25. The firm’s fifty day moving average is $38.10 and its two-hundred day moving average is $41.79. 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 – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $295.29 million during the quarter. Tecnoglass had a net margin of 12.35% and a return on equity of 17.84%. Tecnoglass’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company earned $1.03 earnings per share. Research analysts forecast that Tecnoglass will post 2.57 earnings per share for the current fiscal year.

Institutional Trading of Tecnoglass

Several institutional investors and hedge funds have recently bought and sold shares of TGLS. Envestnet Asset Management Inc. increased its position in shares of Tecnoglass by 28.1% during the second quarter. Envestnet Asset Management Inc. now owns 13,847 shares of the company’s stock valued at $648,000 after acquiring an additional 3,038 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of Tecnoglass in the 2nd quarter valued at approximately $301,000. Parallel Advisors LLC lifted its holdings in shares of Tecnoglass by 444.0% in the 1st quarter. Parallel Advisors LLC now owns 952 shares of the company’s stock worth $42,000 after acquiring an additional 777 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Tecnoglass by 9.1% in the 1st quarter. Bank of America Corp DE now owns 162,777 shares of the company’s stock worth $7,252,000 after acquiring an additional 13,516 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Tecnoglass by 30.9% in the 1st quarter. Quantinno Capital Management LP now owns 12,743 shares of the company’s stock worth $568,000 after acquiring an additional 3,009 shares during the last quarter. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

About Tecnoglass

(Get Free Report)

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.

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