Tecnoglass Inc. (NASDAQ:TGLS) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Tecnoglass Inc. (NASDAQ:TGLS) from a sell rating to a hold rating in a research note issued to investors on Wednesday, October 18th.

According to Zacks, “Tecnoglass, Inc. is engaged in manufacturing and selling architectural glass and windows and aluminum products for the residential and commercial construction industries. It operates primarily in North, Central and South America. Tecnoglass, Inc., formerly known as Andina Acquisition Corporation, is headquartered in Barranquilla, Colombia. “

Other analysts have also issued research reports about the stock. ValuEngine upgraded shares of Tecnoglass from a hold rating to a buy rating in a research note on Monday, October 2nd. BidaskClub upgraded shares of Tecnoglass from a strong sell rating to a sell rating in a research note on Monday, July 31st. Finally, Dougherty & Co lowered shares of Tecnoglass from a buy rating to a neutral rating in a research note on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $17.00.

Shares of Tecnoglass (NASDAQ TGLS) opened at 7.18 on Wednesday. The stock’s market capitalization is $242.89 million. Tecnoglass has a 12 month low of $5.50 and a 12 month high of $12.70. The stock’s 50 day moving average is $7.04 and its 200 day moving average is $8.64.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings data on Friday, August 11th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). The firm had revenue of $80.98 million for the quarter, compared to analysts’ expectations of $84.63 million. Tecnoglass had a negative net margin of 2.45% and a positive return on equity of 16.94%. Analysts anticipate that Tecnoglass will post $0.41 earnings per share for the current fiscal year.

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The firm also recently declared a dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be given a $0.14 dividend. The ex-dividend date is Thursday, September 28th. This is a boost from Tecnoglass’s previous dividend of $0.13.

A number of institutional investors have recently modified their holdings of TGLS. Wells Fargo & Company MN raised its holdings in Tecnoglass by 36.7% during the 2nd quarter. Wells Fargo & Company MN now owns 22,001 shares of the company’s stock worth $205,000 after buying an additional 5,902 shares during the period. Northern Trust Corp raised its holdings in Tecnoglass by 15.6% during the 2nd quarter. Northern Trust Corp now owns 34,006 shares of the company’s stock worth $317,000 after buying an additional 4,588 shares during the period. Vanguard Group Inc. raised its holdings in Tecnoglass by 24.6% during the 2nd quarter. Vanguard Group Inc. now owns 77,402 shares of the company’s stock worth $722,000 after buying an additional 15,261 shares during the period. Boston Partners acquired a new stake in Tecnoglass during the 2nd quarter worth about $975,000. Finally, Kennedy Capital Management Inc. raised its holdings in Tecnoglass by 113.9% during the 2nd quarter. Kennedy Capital Management Inc. now owns 292,636 shares of the company’s stock worth $2,727,000 after buying an additional 155,847 shares during the period. Hedge funds and other institutional investors own 3.83% of the company’s stock.

About Tecnoglass

Tecnoglass Inc, through its subsidiaries, manufactures and sells architectural glass and windows for residential and commercial construction industries in North, Central, and South America. The company offers soft coat, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass.

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