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

According to Zacks, “Shares of GOL Linhas have outperformed its industry in a year's time. Ushering in further good news, the company issued a bullish view with respect to  operating margin for the fourth-quarter of 2018. The metric is anticipated in the range of 19.5-20%, reflecting an improvement of 6 percentage points year over year. Detailed results should be revealed on Feb 28.  The company's focus on capacity discipline and revenue management is as well encouraging. Moreover, the carrier is constantly making efforts to reduce its debt levels. Efforts to modernize fleet are also encouraging. However, high operating expenses might limit bottom-line growth in the fourth quarter of 2018. Evidently, the company has increased its loss per share view for the full year to R$2.90-R$3.20, compared with R$1.80 expected earlier. Apart from high costs, depreciation of Brazilian Real against U.S. dollar is also likely to weigh on final quarter results.”

Other analysts have also recently issued research reports about the company. Citigroup set a $11.00 price objective on Gol Linhas Aereas Inteligentes and gave the company a “buy” rating in a research note on Thursday, October 25th. ValuEngine upgraded Gol Linhas Aereas Inteligentes from a “strong sell” rating to a “sell” rating in a research note on Monday, September 17th. Buckingham Research upped their price objective on Gol Linhas Aereas Inteligentes from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, October 18th. Finally, HSBC cut Gol Linhas Aereas Inteligentes from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $11.26.

Shares of NYSE:GOL traded down $0.04 during trading on Monday, hitting $13.39. The company’s stock had a trading volume of 14,801 shares, compared to its average volume of 736,198. Gol Linhas Aereas Inteligentes has a fifty-two week low of $4.43 and a fifty-two week high of $14.48. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 49.44 and a beta of 0.14.

Gol Linhas Aereas Inteligentes (NYSE:GOL) last released its quarterly earnings results on Thursday, November 1st. The transportation company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.22). Gol Linhas Aereas Inteligentes had a negative return on equity of 12.57% and a negative net margin of 13.23%. The business had revenue of $734.32 million during the quarter, compared to analyst estimates of $737.22 million. As a group, equities research analysts expect that Gol Linhas Aereas Inteligentes will post -1.08 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in GOL. Dimensional Fund Advisors LP raised its position in shares of Gol Linhas Aereas Inteligentes by 32.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 757,258 shares of the transportation company’s stock worth $4,049,000 after purchasing an additional 184,442 shares during the period. Renaissance Technologies LLC raised its position in shares of Gol Linhas Aereas Inteligentes by 7.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,366,798 shares of the transportation company’s stock worth $17,979,000 after purchasing an additional 225,043 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Gol Linhas Aereas Inteligentes during the 2nd quarter worth approximately $107,000. Macquarie Group Ltd. raised its position in shares of Gol Linhas Aereas Inteligentes by 1.8% during the 2nd quarter. Macquarie Group Ltd. now owns 2,848,220 shares of the transportation company’s stock worth $15,210,000 after purchasing an additional 49,900 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Gol Linhas Aereas Inteligentes during the 2nd quarter worth approximately $111,000. Institutional investors and hedge funds own 0.50% of the company’s stock.

About Gol Linhas Aereas Inteligentes

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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