Tecnoglass Inc. (NASDAQ:TGLS) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Tecnoglass Inc. (NASDAQ:TGLS - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $53.83.

A number of analysts have commented on TGLS shares. Stifel Nicolaus downgraded shares of Tecnoglass from a "buy" rating to a "hold" rating and cut their price objective for the company from $48.00 to $45.00 in a report on Wednesday, February 14th. Robert W. Baird cut their price objective on shares of Tecnoglass from $65.00 to $64.00 and set an "outperform" rating for the company in a report on Tuesday, May 7th. DA Davidson reiterated a "buy" rating and issued a $50.00 price objective on shares of Tecnoglass in a report on Monday, March 4th. Sidoti downgraded shares of Tecnoglass from a "buy" rating to a "neutral" rating and increased their price objective for the company from $56.00 to $59.00 in a report on Wednesday, May 1st. Finally, B. Riley restated a "buy" rating and set a $60.00 price target (down previously from $65.00) on shares of Tecnoglass in a report on Friday, May 10th.

Institutional Trading of Tecnoglass

Several institutional investors have recently added to or reduced their stakes in TGLS. Barclays PLC increased its holdings in Tecnoglass by 44.9% in the 3rd quarter. Barclays PLC now owns 32,017 shares of the company's stock valued at $1,055,000 after purchasing an additional 9,919 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Tecnoglass in the 3rd quarter valued at approximately $244,000. Neumeier Poma Investment Counsel LLC increased its holdings in Tecnoglass by 169.7% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 420,310 shares of the company's stock valued at $13,853,000 after purchasing an additional 264,475 shares during the last quarter. Navellier & Associates Inc. increased its holdings in Tecnoglass by 12.7% in the 3rd quarter. Navellier & Associates Inc. now owns 32,869 shares of the company's stock valued at $1,083,000 after purchasing an additional 3,694 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Tecnoglass by 27.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the company's stock valued at $96,000 after purchasing an additional 632 shares during the last quarter. Institutional investors and hedge funds own 37.35% of the company's stock.

Tecnoglass Price Performance

Tecnoglass stock traded down $1.45 during midday trading on Friday, reaching $45.51. The company had a trading volume of 599,821 shares, compared to its average volume of 348,787. The company has a market capitalization of $2.14 billion, a P/E ratio of 13.12 and a beta of 1.79. Tecnoglass has a 12-month low of $28.21 and a 12-month high of $59.76. The firm's fifty day simple moving average is $54.20 and its 200-day simple moving average is $47.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.33 and a quick ratio of 1.72.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The company had revenue of $192.09 million during the quarter, compared to analysts' expectations of $191.04 million. Tecnoglass had a net margin of 19.97% and a return on equity of 31.85%. The company's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 earnings per share. As a group, equities analysts anticipate that Tecnoglass will post 3.37 EPS for the current year.

About Tecnoglass

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.