Gol Linhas Aereas Inteligentes (GOL) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of Gol Linhas Aereas Inteligentes (NYSE:GOL) from a buy rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “GOL Linhas reported better-than-expected results in the fourth quarter of 2018. On the back of strong demand for air travel, passenger revenues increased 10.3% in the quarter. The company's focus on capacity discipline and revenue management is as well encouraging. Efforts to modernize its fleet and reduce debts also raise optimism in the stock. To improve efficiencies and check costs, Gol Linhas is constantly looking to replace  Boeing 737 Next Generation (NG) planes with Boeing 737 MAX-8 jets. However, as the carrier has international exposure, depreciation of Brazilian Real against the US Dollar pose a challenge to the company. In fact, the Brazilian currency depreciated 17.3% against the US Dollar in the final quarter of 2018. The company also has an unimpressive earnings history. Moreover, shares of the company have underperformed its industry so far this year.”

A number of other research analysts have also recently commented on GOL. HSBC cut Gol Linhas Aereas Inteligentes from a buy rating to a hold rating in a research report on Friday, November 30th. UBS Group cut Gol Linhas Aereas Inteligentes from a neutral rating to a sell rating in a research report on Thursday, January 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $11.76.

Shares of NYSE:GOL opened at $13.94 on Tuesday. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -99.57 and a beta of -0.14. Gol Linhas Aereas Inteligentes has a 1 year low of $4.43 and a 1 year high of $15.65.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC lifted its position in shares of Gol Linhas Aereas Inteligentes by 7.2% during the 4th quarter. Jane Street Group LLC now owns 11,594 shares of the transportation company’s stock valued at $150,000 after buying an additional 779 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Gol Linhas Aereas Inteligentes by 0.9% during the 4th quarter. Van ECK Associates Corp now owns 129,362 shares of the transportation company’s stock valued at $1,753,000 after buying an additional 1,121 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Gol Linhas Aereas Inteligentes by 7.6% during the 4th quarter. Bank of America Corp DE now owns 25,950 shares of the transportation company’s stock valued at $351,000 after buying an additional 1,828 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Gol Linhas Aereas Inteligentes by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 762,247 shares of the transportation company’s stock worth $10,314,000 after purchasing an additional 2,589 shares in the last quarter. Finally, Townsquare Capital LLC purchased a new stake in Gol Linhas Aereas Inteligentes during the 4th quarter worth about $292,000. 1.96% of the stock is currently owned by hedge funds and other institutional investors.

Gol Linhas Aereas Inteligentes Company Profile

GOL Linhas Aéreas Inteligentes SA provides scheduled air transportation services for passengers cargoes, and mailbags in Brazil and internationally. 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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Analyst Recommendations for Gol Linhas Aereas Inteligentes (NYSE:GOL)

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