Tecnoglass (NASDAQ:TGLS) Upgraded to “Buy” at Zacks Investment Research

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Tecnoglass (NASDAQ:TGLS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The brokerage presently has a $7.75 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 7.94% from the stock’s current price.

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. “

A number of other equities research analysts have also recently issued reports on the company. Robert W. Baird raised their target price on Cerner from $67.00 to $71.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. DA Davidson began coverage on Cardtronics in a research note on Thursday, May 30th. They issued a “buy” rating on the stock. BidaskClub upgraded Zillow Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. ValuEngine upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Finally, B. Riley reiterated a “buy” rating on shares of Tecnoglass in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $10.46.

TGLS traded up $0.15 during trading hours on Friday, hitting $7.18. 67,669 shares of the stock were exchanged, compared to its average volume of 66,138. The stock has a 50-day simple moving average of $6.70. Tecnoglass has a 12 month low of $6.08 and a 12 month high of $10.29. The firm has a market capitalization of $306.72 million, a PE ratio of 8.45, a price-to-earnings-growth ratio of 0.49 and a beta of 1.01. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.84 and a current ratio of 2.50.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Tecnoglass had a return on equity of 21.84% and a net margin of 1.44%. The firm had revenue of $107.17 million for the quarter, compared to analysts’ expectations of $95.72 million. As a group, equities research analysts anticipate that Tecnoglass will post 0.72 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of TGLS. Formula Growth Ltd. acquired a new position in shares of Tecnoglass during the first quarter valued at $2,912,000. Monarch Partners Asset Management LLC acquired a new position in shares of Tecnoglass during the first quarter valued at $746,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Tecnoglass during the fourth quarter valued at $687,000. National Investment Services Inc. WI acquired a new position in shares of Tecnoglass during the first quarter valued at $443,000. Finally, BlackRock Inc. increased its holdings in shares of Tecnoglass by 8,803.0% during the fourth quarter. BlackRock Inc. now owns 53,863 shares of the company’s stock valued at $435,000 after purchasing an additional 53,258 shares during the period. 12.82% of the stock is currently owned by institutional investors.

Tecnoglass Company Profile

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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