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 equities analysts have also recently issued reports about the stock. 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. Raymond James raised shares of Tecnoglass from an outperform rating to a strong-buy rating and set a $10.00 price objective on the stock in a research note on Monday, July 1st. ValuEngine raised shares of Tecnoglass from a sell rating to a hold rating in a research note on Wednesday, October 2nd. BidaskClub cut shares of Tecnoglass from a buy rating to a hold rating in a research note on Saturday, October 5th. Finally, Dougherty & Co reaffirmed a buy rating on shares of Tecnoglass in a research note on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average 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. Tecnoglass had a net margin of 4.04% and a return on equity of 21.77%. The firm had revenue of $113.88 million for the quarter, compared to analysts’ expectations of $97.53 million. Sell-side analysts expect that Tecnoglass will post 0.74 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. First Manhattan Co. acquired a new position in Tecnoglass in the 2nd quarter valued at approximately $243,000. Connors Investor Services Inc. acquired a new position in Tecnoglass in the 2nd quarter valued at approximately $247,000. Vanguard Group Inc. increased its position in Tecnoglass by 37.4% in the 2nd quarter. Vanguard Group Inc. now owns 279,955 shares of the company’s stock valued at $1,817,000 after acquiring an additional 76,232 shares during the period. BlackRock Inc. increased its position in Tecnoglass by 20.6% in the 2nd quarter. BlackRock Inc. now owns 54,742 shares of the company’s stock valued at $356,000 after acquiring an additional 9,357 shares during the period. Finally, Perritt Capital Management Inc. increased its position in Tecnoglass by 11.0% in the 2nd quarter. Perritt Capital Management Inc. now owns 245,598 shares of the company’s stock valued at $1,594,000 after acquiring an additional 24,319 shares during the period. 12.70% 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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