Tecnoglass (NASDAQ:TGLS) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Tecnoglass (NASDAQ:TGLS) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $8.25 price objective on the stock.

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. “

TGLS has been the subject of a number of other reports. DA Davidson assumed coverage on Tecnoglass in a research report on Thursday, May 30th. They issued a buy rating and a $9.00 target price for the company. Raymond James raised Tecnoglass from an outperform rating to a strong-buy rating and set a $10.00 target price for the company in a research report on Monday, July 1st. Goldman Sachs Group assumed coverage on Tecnoglass in a research report on Thursday, May 9th. They issued a buy rating for the company. Finally, BidaskClub downgraded Tecnoglass from a hold rating to a sell rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $10.71.

NASDAQ:TGLS opened at $7.24 on Tuesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.41 and a quick ratio of 1.84. The business has a fifty day simple moving average of $7.17 and a two-hundred day simple moving average of $7.37. Tecnoglass has a 1 year low of $6.08 and a 1 year high of $10.29. The company has a market capitalization of $327.93 million, a P/E ratio of 8.52 and a beta of 0.99.

Tecnoglass (NASDAQ:TGLS) last released its earnings results on Friday, August 9th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. Tecnoglass had a return on equity of 21.77% and a net margin of 4.04%. The business had revenue of $113.88 million during the quarter, compared to the consensus estimate of $97.53 million. As a group, analysts anticipate that Tecnoglass will post 0.75 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Wednesday, July 31st will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 7.73%. The ex-dividend date is Tuesday, July 30th. Tecnoglass’s payout ratio is currently 65.88%.

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new position in shares of Tecnoglass in the second quarter worth $69,000. Northern Trust Corp boosted its holdings in shares of Tecnoglass by 39.6% in the second quarter. Northern Trust Corp now owns 33,415 shares of the company’s stock worth $217,000 after acquiring an additional 9,484 shares during the period. First Manhattan Co. bought a new position in shares of Tecnoglass in the second quarter worth $243,000. Shepherd Kaplan Krochuk LLC boosted its holdings in shares of Tecnoglass by 90.0% in the second quarter. Shepherd Kaplan Krochuk LLC now owns 38,000 shares of the company’s stock worth $247,000 after acquiring an additional 18,000 shares during the period. Finally, Connors Investor Services Inc. bought a new position in shares of Tecnoglass in the second quarter worth $247,000. 13.97% of the stock is owned by hedge funds and other institutional investors.

About Tecnoglass

Tecnoglass Inc, through its subsidiaries, manufactures, supplies, and installs architectural glass, windows, and associated aluminum products for the commercial and residential construction industries in North, Central, and South America. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.

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