Zacks Investment Research Downgrades Gol Linhas Aereas Inteligentes S.A. (GOL) to Hold

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

According to Zacks, “Shares of GOL Linhas have outperformed its industry in the last six months. The company is benefitting from the improvement in the Latin American economy. The carrier's view for third quarter and full-year 2017 is impressive. The carrier has been undergoing a thorough restructuring process to revive itself. The carrier's efforts to reduce debt levels are also encouraging. We expect the company’s focus on capacity discipline to result in improvement in yields, going forward. However, increasing expenses on aircraft fuel continue to limit bottom-line growth. Soft international traffic is another challenge for the company to overcome. Moreover, GOL is highly dependent on the products of certain big suppliers.”

Several other equities research analysts also recently weighed in on GOL. Citigroup Inc. raised Gol Linhas Aereas Inteligentes from a “sell” rating to a “neutral” rating in a report on Wednesday, July 5th. Bank of America Corporation raised Gol Linhas Aereas Inteligentes from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, July 5th. BidaskClub raised Gol Linhas Aereas Inteligentes from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Finally, ValuEngine raised Gol Linhas Aereas Inteligentes from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Gol Linhas Aereas Inteligentes has a consensus rating of “Buy” and an average target price of $22.17.

Gol Linhas Aereas Inteligentes (NYSE GOL) traded up 1.42% during trading on Tuesday, reaching $24.34. 77,680 shares of the company’s stock traded hands. Gol Linhas Aereas Inteligentes has a one year low of $5.77 and a one year high of $24.90. The company has a 50 day moving average of $20.19 and a 200 day moving average of $15.59. The firm’s market cap is $1.69 billion.

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Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in shares of Gol Linhas Aereas Inteligentes by 6.9% during the first quarter. Bank of America Corp DE now owns 13,973 shares of the transportation company’s stock worth $370,000 after purchasing an additional 901 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Gol Linhas Aereas Inteligentes during the first quarter worth about $110,000. Goldman Sachs Group Inc. acquired a new stake in shares of Gol Linhas Aereas Inteligentes during the first quarter worth about $233,000. Virtu KCG Holdings LLC lifted its holdings in shares of Gol Linhas Aereas Inteligentes by 89.3% during the second quarter. Virtu KCG Holdings LLC now owns 22,285 shares of the transportation company’s stock worth $253,000 after purchasing an additional 10,515 shares during the period. Finally, KCG Holdings Inc. acquired a new stake in shares of Gol Linhas Aereas Inteligentes during the first quarter worth about $312,000. 0.04% of the stock is owned by hedge funds and other institutional investors.

About Gol Linhas Aereas Inteligentes

Gol Linhas Aereas Inteligentes SA is a Brazil-based airline company. The Company focuses on carrying passengers to over 60 destinations, approximately 50 in Brazil and 10 in South America and the Caribbean. The Company’s fleet includes approximately 120 Boeing 737 aircrafts. The Company operates through two segments: Air transportation and Loyalty program.

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