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 brokerages have also recently issued reports on TGLS. Robert W. Baird set a $11.00 price objective on shares of Tecnoglass and gave the company a “buy” rating in a research note on Monday, August 12th. ValuEngine raised shares of Tecnoglass from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James raised shares of Tecnoglass from an “outperform” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a research note on Monday, July 1st. Dougherty & Co reaffirmed a “buy” rating on shares of Tecnoglass in a research note on Thursday, August 22nd. Finally, BidaskClub cut shares of Tecnoglass from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $10.75.
Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $113.88 million for the quarter, compared to analysts’ expectations of $97.53 million. Tecnoglass had a net margin of 4.04% and a return on equity of 21.77%. Equities analysts expect that Tecnoglass will post 0.74 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. First Manhattan Co. bought a new stake in shares of Tecnoglass during the second quarter worth $243,000. Connors Investor Services Inc. bought a new stake in shares of Tecnoglass in the second quarter worth $247,000. Vanguard Group Inc. grew its stake in shares of Tecnoglass by 37.4% in the second quarter. Vanguard Group Inc. now owns 279,955 shares of the company’s stock worth $1,817,000 after purchasing an additional 76,232 shares during the last quarter. BlackRock Inc. grew its stake in shares of Tecnoglass by 20.6% in the second quarter. BlackRock Inc. now owns 54,742 shares of the company’s stock worth $356,000 after purchasing an additional 9,357 shares during the last quarter. Finally, Perritt Capital Management Inc. grew its stake in shares of Tecnoglass by 11.0% in the second quarter. Perritt Capital Management Inc. now owns 245,598 shares of the company’s stock worth $1,594,000 after purchasing an additional 24,319 shares during the last quarter. 12.70% of the stock is currently owned by hedge funds and other 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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