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

Tecnoglass (NYSE:TGLS) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

TGLS has been the subject of several other research reports. DA Davidson decreased their price target on Tecnoglass from $95.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tecnoglass in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

Tecnoglass Trading Up 0.4%

NYSE TGLS traded up $0.23 during mid-day trading on Monday, hitting $52.44. The company’s stock had a trading volume of 20,134 shares, compared to its average volume of 331,578. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 0.59 and a beta of 1.71. The firm’s 50 day moving average price is $50.18. The company has a quick ratio of 1.40, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. Tecnoglass has a twelve month low of $44.26 and a twelve month high of $90.34.

Tecnoglass (NYSE:TGLS) last issued its quarterly earnings data on Thursday, November 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.11). Tecnoglass had a net margin of 18.46% and a return on equity of 26.64%. During the same quarter last year, the firm earned $1.08 EPS. Tecnoglass’s revenue for the quarter was up 9.5% compared to the same quarter last year.

Institutional Trading of Tecnoglass

Institutional investors have recently modified their holdings of the business. Capital World Investors boosted its holdings in shares of Tecnoglass by 6.2% in the third quarter. Capital World Investors now owns 1,794,272 shares of the company’s stock worth $120,055,000 after acquiring an additional 104,132 shares during the period. First Trust Advisors LP lifted its holdings in Tecnoglass by 3.1% during the 3rd quarter. First Trust Advisors LP now owns 1,026,970 shares of the company’s stock worth $68,715,000 after purchasing an additional 30,834 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tecnoglass by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,022,566 shares of the company’s stock worth $68,423,000 after purchasing an additional 14,432 shares in the last quarter. American Century Companies Inc. boosted its stake in Tecnoglass by 9.6% in the 3rd quarter. American Century Companies Inc. now owns 1,022,101 shares of the company’s stock worth $68,389,000 after purchasing an additional 89,175 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in Tecnoglass by 2.2% during the 3rd quarter. William Blair Investment Management LLC now owns 937,463 shares of the company’s stock valued at $62,726,000 after buying an additional 20,071 shares in the last quarter. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.