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

Tecnoglass (NYSE:TGLS) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks reports.

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

Tecnoglass Stock Down 1.5%

Shares of NYSE:TGLS opened at $37.64 on Tuesday. Tecnoglass has a 1 year low of $34.05 and a 1 year high of $61.35. The company has a market capitalization of $1.67 billion and a PE ratio of 13.25. The business has a fifty day moving average price of $38.10 and a two-hundred day moving average price of $41.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.86 and a quick ratio of 1.17.

Tecnoglass (NYSE:TGLS) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $295.29 million for the quarter. Tecnoglass had a net margin of 12.35% and a return on equity of 17.84%. The business’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. Analysts forecast that Tecnoglass will post 2.57 earnings per share for the current year.

Institutional Trading of Tecnoglass

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of Tecnoglass by 15.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,243,496 shares of the company’s stock worth $55,395,000 after purchasing an additional 161,955 shares in the last quarter. Bank of America Corp DE grew its stake in 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 buying an additional 13,516 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Tecnoglass by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 73,522 shares of the company’s stock worth $3,275,000 after buying an additional 3,880 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Tecnoglass by 7.5% in the 1st quarter. Principal Financial Group Inc. now owns 48,784 shares of the company’s stock worth $2,173,000 after buying an additional 3,419 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Tecnoglass in the 1st quarter worth $1,656,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Tecnoglass Company Profile

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.