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

According to Zacks, “GOL Linhas reported breakevern earnings in the third quarter of 2016. The company's results improved from the loss reported in the year-ago quarter. The company also witnessed an improvement in load factor in the quarter. Although foreign exchange risk and economic situations are a concern, the company’s efforts to improve its services through better in-flight offering and capital expenditure management is impressive. Moreover, GOL Linhas is one of the most prominent airlines in the region and any improvement in the economy could see a much better performance by the company. The company's restructuring process is also encouraging. We are positive on the compnay's revised outlook for 2016 wherein operating margin is expected to be at the higher end of the guidance issued earlier. However, we are concerned about the company's decline in traffic for the month of October. “

A number of other equities analysts also recently weighed in on GOL. Bank of America Corp. upgraded shares of Gol Linhas Aereas Inteligentes SA from an “underperform” rating to a “neutral” rating in a report on Friday, August 5th. Credit Suisse Group AG upgraded shares of Gol Linhas Aereas Inteligentes SA from an “underperform” rating to a “neutral” rating in a report on Friday, August 26th. Morgan Stanley upgraded shares of Gol Linhas Aereas Inteligentes SA from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $4.90 to $23.00 in a report on Thursday, September 8th. Raymond James Financial Inc. restated a “hold” rating on shares of Gol Linhas Aereas Inteligentes SA in a report on Friday, September 23rd. Finally, Citigroup Inc. upgraded shares of Gol Linhas Aereas Inteligentes SA from a “sell” rating to a “neutral” rating and upped their price objective for the company from $8.00 to $22.50 in a report on Monday, November 7th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.79.

Analyst Recommendations for Gol Linhas Aereas Inteligentes SA (NYSE:GOL)

Shares of Gol Linhas Aereas Inteligentes SA (NYSE:GOL) traded up 4.07% during mid-day trading on Tuesday, reaching $17.12. 144,257 shares of the company’s stock were exchanged. Gol Linhas Aereas Inteligentes SA has a 52-week low of $2.40 and a 52-week high of $27.08. The stock’s 50-day moving average is $21.60 and its 200-day moving average is $15.94. The stock’s market cap is $592.88 million.

A number of large investors have recently bought and sold shares of the company. Citadel Advisors LLC bought a new position in Gol Linhas Aereas Inteligentes SA during the third quarter worth approximately $227,000. KCG Holdings Inc. bought a new position in Gol Linhas Aereas Inteligentes SA during the third quarter worth approximately $297,000. BlackRock Institutional Trust Company N.A. bought a new position in Gol Linhas Aereas Inteligentes SA during the third quarter worth approximately $609,000. Finally, Contrarian Capital Management L.L.C. bought a new position in Gol Linhas Aereas Inteligentes SA during the second quarter worth approximately $2,018,000. 0.19% of the stock is owned by institutional investors and hedge funds.

About Gol Linhas Aereas Inteligentes SA

Gol Linhas Aereas Inteligentes SA is a holding company. The Company is a low-cost carrier, which provides service on routes connecting all of Brazil’s cities in South America and selected tourist destinations in the Caribbean. The Company operates through two segments: flight transportation and Smiles loyalty program.

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