Tecnoglass (TGLS) increases by 11.4%: is this an indication of additional gains?

TEcnoglass shares (TGLS) climbed 11.4% in the last trading session to close at $ 26.20. The movement was supported by solid volume with a lot more action changing hands than in a normal session. This compares to the stock’s 4.2% gain over the past four weeks.

Tecnoglass shares benefited from optimism surrounding the home improvement market, characterized by growth in single-family housing activity in the United States, resumption of commercial construction work as well as market share gains. Additionally, the company’s vertically integrated business model helps manage costs prudently. Building on these trends and the company’s strong business fundamentals, management presented an encouraging vision for 2021. They expect total revenue of between $ 450 million and $ 465 million, reflecting growth from $ 374 million. , $ 9 million recorded the previous year.

This architectural glass maker is expected to post quarterly profit of $ 0.34 per share in its next report, which represents a year-over-year change of + 21.4%. Revenue is expected to reach $ 117.64 million, up 13.9% from the prior year quarter.

While earnings and income growth expectations are important in assessing a stock’s potential strength, empirical research shows a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For Tecnoglass, the consensus EPS estimate for the quarter has remained unchanged over the past 30 days. And the price of a stock usually does not continue to rise in the absence of a trend in revisions to earnings estimates. So be sure to keep an eye on TGLS going forward to see if that recent leap can turn into more force on the road.

The stock currently carries a Zacks Rank 1 (strong buy). You can see the full list of today’s Zacks Rank # 1 (strong buy) stocks here >>>>

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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