Controladora Vuela Compania de Aviacion (NYSE:VLRS) Hits New 12-Month Low – Here’s What Happened

Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (NYSE:VLRS)’s share price hit a new 52-week low on Tuesday. The stock traded as low as $5.76 and last traded at $5.7650, with a volume of 296,224 shares changing hands. The stock had previously closed at $5.88.

Analysts Set New Price Targets

A number of brokerages have issued reports on VLRS. Weiss Ratings lowered Controladora Vuela Compania de Aviacion from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, July 31st. UBS Group raised their price target on Controladora Vuela Compania de Aviacion from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Zacks Research lowered Controladora Vuela Compania de Aviacion from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Finally, The Goldman Sachs Group cut their price objective on shares of Controladora Vuela Compania de Aviacion from $8.60 to $7.70 and set a “neutral” rating on the stock in a research note on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Controladora Vuela Compania de Aviacion presently has a consensus rating of “Hold” and an average target price of $9.40.

Controladora Vuela Compania de Aviacion Stock Up 0.1%

The firm’s fifty day moving average price is $6.62 and its 200-day moving average price is $7.44. The company has a debt-to-equity ratio of 6.78, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $660.54 million, a P/E ratio of -3.45 and a beta of 1.81.

Controladora Vuela Compania de Aviacion (NYSE:VLRS) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.03). The company had revenue of $859.00 million for the quarter, compared to analyst estimates of $854.70 million. Controladora Vuela Compania de Aviacion had a negative net margin of 5.71% and a negative return on equity of 93.91%. As a group, equities research analysts forecast that Controladora Vuela Compania de Aviacion, S.A.B. de C.V. will post -2.49 earnings per share for the current year.

Hedge Funds Weigh In On Controladora Vuela Compania de Aviacion

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of Controladora Vuela Compania de Aviacion by 55.4% in the 1st quarter. Bank of America Corp DE now owns 588,981 shares of the transportation company’s stock worth $4,264,000 after buying an additional 209,978 shares in the last quarter. Dorsey Wright & Associates bought a new position in Controladora Vuela Compania de Aviacion during the first quarter valued at about $1,840,000. Diversify Wealth Management LLC acquired a new position in Controladora Vuela Compania de Aviacion during the first quarter worth about $1,279,000. Empowered Funds LLC acquired a new position in Controladora Vuela Compania de Aviacion during the first quarter worth about $1,103,000. Finally, AdvisorShares Investments LLC acquired a new position in Controladora Vuela Compania de Aviacion during the first quarter worth about $860,000. 53.32% of the stock is currently owned by institutional investors and hedge funds.

About Controladora Vuela Compania de Aviacion

Controladora Vuela Compañía de Aviación, SAB. de C.V., operating under the Volaris brand, is a Mexican ultra-low-cost airline. The company provides scheduled passenger air transportation, along with ancillary services such as baggage, seat selection and other travel-related offerings.

Volaris began operations in 2006 and serves a broad network of destinations in Mexico, the United States, and Central America. Its business model emphasizes affordable base fares, high aircraft utilization and the separate sale of optional services.

Controladora Vuela is headquartered in Mexico City and is listed on the New York Stock Exchange under the symbol VLRS.