Gol Linhas Aereas Inteligentes (GOL) Upgraded to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Gol Linhas Aereas Inteligentes (NYSE:GOL) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Zacks.com reports. The brokerage currently has $13.00 price objective on the transportation company’s stock.

According to Zacks, “GOL Linhas has been benefiting from strong demand for air travel. Owing to this tailwind, passenger revenues increased 11.2% in 2018. Additionally, increase in average fares should boost the company's top line in the first quarter of 2019. The company's focus on capacity discipline and improving yields as well as its efforts to control costs are encouraging. Backed by this upside, Gol Linhas raised its operating margin forecast for 2019 and 2020. The company's measures to control debt are also impressive. Efforts to modernize its fleet also raise optimism on the stock. The positivity revolving around the stock is evident from the Zacks Consensus Estimate for first-quarter 2019 earnings being revised 54.2% upward in the last 60 days. However, as the carrier has international exposure, depreciation of Brazilian Real against the US dollar poses a challenge to the company.”

Other analysts also recently issued research reports about the stock. UBS Group downgraded shares of Gol Linhas Aereas Inteligentes from a neutral rating to a sell rating in a research report on Thursday, January 17th. ValuEngine downgraded shares of Gol Linhas Aereas Inteligentes from a strong-buy rating to a buy rating in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $11.01.

NYSE:GOL opened at $11.71 on Monday. Gol Linhas Aereas Inteligentes has a fifty-two week low of $4.43 and a fifty-two week high of $16.60.

Gol Linhas Aereas Inteligentes (NYSE:GOL) last released its earnings results on Thursday, February 28th. The transportation company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $840.84 million for the quarter. On average, equities research analysts expect that Gol Linhas Aereas Inteligentes will post 0.68 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC grew 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 worth $150,000 after buying an additional 779 shares during the period. Van ECK Associates Corp grew 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 worth $1,753,000 after buying an additional 1,121 shares during the period. Bank of America Corp DE grew 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 worth $351,000 after buying an additional 1,828 shares during the period. Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 2,589 shares during the period. Finally, Townsquare Capital LLC acquired a new stake in shares of Gol Linhas Aereas Inteligentes during the 4th quarter worth approximately $292,000. 2.12% of the stock is owned by institutional investors.

About Gol Linhas Aereas Inteligentes

GOL Linhas AĆ©reas Inteligentes SA provides air passenger transportation services in Brazil and rest of South America, the Caribbean, and the United States. The company operates through Flight Transportation and Smiles Loyalty Program segments. It also offers cargo transportation and logistics services.

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