Tecnoglass (NASDAQ:TGLS) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Tecnoglass (NASDAQ:TGLS) from a sell rating to a hold rating in a research note released on Wednesday morning, BidAskClub reports.

TGLS has been the topic of a number of other reports. DA Davidson began coverage on Tecnoglass in a report on Thursday, May 30th. They issued a buy rating and a $9.00 price target on the stock. Raymond James raised Tecnoglass from an outperform rating to a strong-buy rating and set a $10.00 target price on the stock in a research report on Monday, July 1st. Zacks Investment Research raised Tecnoglass from a hold rating to a buy rating and set a $8.25 target price on the stock in a research report on Tuesday. Finally, Goldman Sachs Group started coverage on Tecnoglass in a research report on Thursday, May 9th. They issued a buy rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Tecnoglass currently has an average rating of Buy and a consensus price target of $10.71.

Shares of Tecnoglass stock opened at $7.24 on Wednesday. The firm has a market cap of $334.20 million, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 0.43 and a beta of 0.99. The stock’s 50-day moving average is $7.17 and its 200-day moving average is $7.37. Tecnoglass has a one year low of $6.08 and a one year high of $10.29. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.41 and a quick ratio of 1.84.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $113.88 million for the quarter, compared to analyst estimates of $97.53 million. Tecnoglass had a return on equity of 21.77% and a net margin of 4.04%. On average, equities analysts expect that Tecnoglass will post 0.75 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Wednesday, July 31st will be given 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 dividend payout ratio is currently 65.88%.

Several large investors have recently added to or reduced their stakes in TGLS. BlackRock Inc. lifted 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 last quarter. Monarch Partners Asset Management LLC purchased a new stake in shares of Tecnoglass during the first quarter valued at $746,000. Pinnacle Associates Ltd. purchased a new stake in shares of Tecnoglass during the first quarter valued at $256,000. Formula Growth Ltd. purchased a new stake in shares of Tecnoglass during the first quarter valued at $2,912,000. Finally, National Investment Services Inc. WI lifted its holdings in shares of Tecnoglass by 72.6% during the second quarter. National Investment Services Inc. WI now owns 104,936 shares of the company’s stock valued at $681,000 after purchasing an additional 44,140 shares during the last quarter. 13.97% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Tecnoglass (NASDAQ:TGLS)

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