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 Wednesday.

According to Zacks, “Shares of GOL Linhas have outperformed its industry in the last six months. Ushering in further good news, the company reported better-than-expected results in the second quarter of 2017. Moreover, the top line improved significantly year over year. The carrier's view for full-year 2017 is also encouraging. An improving Latin American economy is also aiding GOL Linhas. We expect the company’s focus on capacity discipline to result in increasing yields, going forward. However, the carrier's earnings per share declined significantly in the second quarter due to higher expenses on aircraft fuel. Moreover, total volume of departures fell 5.1%, while total number of seats available declined 4.1% in the quarter. GOL is also highly dependent on the products of certain big suppliers and operates in a competitive Latin American airline space.”

Several other brokerages have also issued reports on GOL. BidaskClub upgraded Gol Linhas Aereas Inteligentes from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Bank of America Corporation lowered Gol Linhas Aereas Inteligentes from a “buy” rating to a “neutral” rating in a research note on Thursday, May 18th. Citigroup Inc. lowered Gol Linhas Aereas Inteligentes from a “neutral” rating to a “sell” rating in a research note on Thursday, May 18th. Finally, ValuEngine upgraded Gol Linhas Aereas Inteligentes from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 14th. Seven equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Gol Linhas Aereas Inteligentes currently has an average rating of “Hold” and a consensus target price of $20.63.

Shares of Gol Linhas Aereas Inteligentes (NYSE GOL) traded up 0.50% during midday trading on Wednesday, hitting $16.03. 134,675 shares of the stock traded hands. The firm’s 50 day moving average price is $14.62 and its 200 day moving average price is $13.83. The company’s market capitalization is $1.11 billion. Gol Linhas Aereas Inteligentes has a 12-month low of $5.77 and a 12-month high of $17.96.

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A number of institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Gol Linhas Aereas Inteligentes during the first quarter worth $110,000. Fox Run Management L.L.C. acquired a new position in shares of Gol Linhas Aereas Inteligentes during the second quarter worth $194,000. IFP Advisors Inc acquired a new position in shares of Gol Linhas Aereas Inteligentes during the second quarter worth $227,000. Goldman Sachs Group Inc. acquired a new position in shares of Gol Linhas Aereas Inteligentes during the first quarter worth $233,000. Finally, Virtu KCG Holdings LLC raised its position in shares of Gol Linhas Aereas Inteligentes by 89.3% in the second quarter. Virtu KCG Holdings LLC now owns 22,285 shares of the transportation company’s stock worth $253,000 after buying an additional 10,515 shares in the last quarter. Institutional investors and hedge funds own 0.09% of the company’s stock.

About Gol Linhas Aereas Inteligentes

Gol Linhas Aereas Inteligentes SA (GOL) is an airline company. The Company is engaged in providing mobile geolocation services to its passengers and designing a Website featuring accessibility resources to assist people with visual and motor impairments. The Company operates through two segments: Air transportation and Loyalty program.

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