Gol Linhas Aereas Inteligentes (NYSE:GOL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Gol Linhas' focus on capacity discipline and revenue management is encouraging. In this regard, the company's unit revenue performance is noteworthy. Passenger revenues are also uptrending driven by solid demand for air travel. The carrier's efforts to modernize its fleet also raise optimism in the stock. The decision of the Brazilian lower house to remove restrictions on entire foreign ownership on their carriers is a another positive for GOL. However, high operating costs are a cause for concern. With uptrending oil prices, the company raised fuel costs view for 2018 to R$2.9 compared with R$2.5, expected earlier. The company's outlook for 2018 is also discouraging. Moreover, shares of the company have declined 31.5% in a year's time.”

A number of other research analysts have also recently commented on the company. ValuEngine raised Gol Linhas Aereas Inteligentes from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 4th. Goldman Sachs Group initiated coverage on Gol Linhas Aereas Inteligentes in a report on Monday, July 16th. They issued a “neutral” rating and a $6.02 price target on the stock. Citigroup raised Gol Linhas Aereas Inteligentes from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Wednesday, July 25th. Finally, Buckingham Research lowered their price target on Gol Linhas Aereas Inteligentes from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, June 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $7.88.

NYSE GOL traded up $0.30 during trading hours on Thursday, reaching $5.75. The company’s stock had a trading volume of 64,285 shares, compared to its average volume of 780,921. The company has a current ratio of 0.48, a quick ratio of 0.45 and a debt-to-equity ratio of -1.54. Gol Linhas Aereas Inteligentes has a 1 year low of $4.43 and a 1 year high of $14.48. The stock has a market cap of $919.55 million, a PE ratio of 21.30 and a beta of 1.96.

Gol Linhas Aereas Inteligentes (NYSE:GOL) last posted its quarterly earnings results on Thursday, August 2nd. The transportation company reported ($0.45) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.18). Gol Linhas Aereas Inteligentes had a negative return on equity of 4.28% and a negative net margin of 6.53%. The business had revenue of $656.02 million during the quarter. analysts forecast that Gol Linhas Aereas Inteligentes will post 0.18 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Contrarian Capital Management L.L.C. increased its stake in Gol Linhas Aereas Inteligentes by 2.5% in the 1st quarter. Contrarian Capital Management L.L.C. now owns 5,946,239 shares of the transportation company’s stock worth $77,242,000 after acquiring an additional 143,784 shares during the last quarter. Renaissance Technologies LLC increased its stake in Gol Linhas Aereas Inteligentes by 7.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,366,798 shares of the transportation company’s stock worth $17,979,000 after acquiring an additional 225,043 shares during the last quarter. Macquarie Group Ltd. increased its stake in Gol Linhas Aereas Inteligentes by 1.8% in the 2nd quarter. Macquarie Group Ltd. now owns 2,848,220 shares of the transportation company’s stock worth $15,210,000 after acquiring an additional 49,900 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Gol Linhas Aereas Inteligentes by 32.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 757,258 shares of the transportation company’s stock worth $4,049,000 after acquiring an additional 184,442 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Gol Linhas Aereas Inteligentes by 138.3% in the 1st quarter. Millennium Management LLC now owns 610,939 shares of the transportation company’s stock worth $7,936,000 after acquiring an additional 354,588 shares during the last quarter. 0.58% of the stock is currently owned by institutional investors and hedge funds.

Gol Linhas Aereas Inteligentes Company Profile

GOL Linhas Aéreas Inteligentes SA provides scheduled air transportation services for passengers cargoes, and mailbags in Brazil and Latin America. The company operates through Flight Transportation and Smiles Loyalty Program segments. It also offers logistics services. In addition, the company offers Smiles loyalty programs with approximately 13.7 million members, allowing clients to accumulate and redeem miles.

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