Tecnoglass (TGLS) Now Covered by Analysts at Raymond James

Equities research analysts at Raymond James began coverage on shares of Tecnoglass (NASDAQ:TGLS) in a research report issued to clients and investors on Wednesday, May 8th, MarketBeat.com reports. The firm set an “outperform” rating and a $6.98 price target on the stock. Raymond James’ target price indicates a potential downside of 2.65% from the company’s current price.

TGLS has been the topic of several other reports. Zacks Investment Research raised Tecnoglass from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Saturday, January 19th. ValuEngine cut Tecnoglass from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. BidaskClub cut Tecnoglass from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Finally, B. Riley reissued a “buy” rating on shares of Tecnoglass in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company. Tecnoglass currently has a consensus rating of “Buy” and an average price target of $9.96.

Shares of TGLS stock opened at $7.17 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 2.50 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $312.84 million, a price-to-earnings ratio of 8.44, a P/E/G ratio of 0.46 and a beta of 1.27. Tecnoglass has a fifty-two week low of $6.21 and a fifty-two week high of $10.29.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Thursday, May 9th. The company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. The company had revenue of $107.17 million during the quarter, compared to the consensus estimate of $95.72 million. Tecnoglass had a return on equity of 21.84% and a net margin of 1.44%. On average, equities analysts predict that Tecnoglass will post 0.74 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Formula Growth Ltd. bought a new position in shares of Tecnoglass during the first quarter valued at $2,912,000. Renaissance Technologies LLC lifted its holdings in shares of Tecnoglass by 51.7% during the first quarter. Renaissance Technologies LLC now owns 173,136 shares of the company’s stock valued at $1,260,000 after purchasing an additional 59,000 shares in the last quarter. Perritt Capital Management Inc. lifted its holdings in shares of Tecnoglass by 17.6% during the fourth quarter. Perritt Capital Management Inc. now owns 139,752 shares of the company’s stock valued at $1,128,000 after purchasing an additional 20,882 shares in the last quarter. Monarch Partners Asset Management LLC bought a new position in shares of Tecnoglass during the first quarter valued at $746,000. Finally, California Public Employees Retirement System lifted its holdings in shares of Tecnoglass by 1.7% during the fourth quarter. California Public Employees Retirement System now owns 89,222 shares of the company’s stock valued at $720,000 after purchasing an additional 1,496 shares in the last quarter. 12.82% 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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Analyst Recommendations for Tecnoglass (NASDAQ:TGLS)

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