Zacks Investment Research lowered shares of Gogo Inflight Internet (NASDAQ:GOGO) from a hold rating to a sell rating in a research report released on Wednesday morning.
According to Zacks, “Gogo is the leading provider of in-flight connectivity and wireless entertainment solutions for the global aviation industry. They currently provide services on approximately 9,600 aircraft, which represents more than 20% of the world’s total commercial and business jet aircraft. Gogo has partnerships with 14 commercial airlines and is installed on more than 2,500 commercial aircraft. Nearly 7,000 business aircraft are also flying with its solutions, including the world’s largest fractional ownership fleets. Gogo also is a factory option at every major business aircraft manufacturer. Gogo is headquartered in Chicago, IL, with additional facilities in Broomfield, CO, and various locations overseas. “
Other analysts also recently issued research reports about the company. William Blair restated a buy rating on shares of Gogo Inflight Internet in a report on Tuesday, March 6th. ValuEngine upgraded Gogo Inflight Internet from a sell rating to a hold rating in a report on Sunday, December 31st. BidaskClub upgraded Gogo Inflight Internet from a sell rating to a hold rating in a report on Tuesday, March 6th. Guggenheim downgraded Gogo Inflight Internet from a buy rating to a neutral rating and boosted their price objective for the stock from $8.75 to $14.00 in a report on Wednesday, March 7th. Finally, JPMorgan Chase downgraded Gogo Inflight Internet from an overweight rating to a neutral rating in a report on Friday, February 23rd. Four analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $13.80.
NASDAQ GOGO opened at $8.49 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.73 and a debt-to-equity ratio of -5.22. Gogo Inflight Internet has a 1 year low of $8.02 and a 1 year high of $14.76.
Gogo Inflight Internet (NASDAQ:GOGO) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.04). The business had revenue of $188.00 million during the quarter, compared to analysts’ expectations of $181.44 million. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.34) EPS. analysts forecast that Gogo Inflight Internet will post -1.97 earnings per share for the current year.
In other Gogo Inflight Internet news, Director Charles C. Townsend bought 100,000 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were bought at an average price of $9.32 per share, for a total transaction of $932,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 37.30% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC acquired a new position in shares of Gogo Inflight Internet in the 4th quarter valued at about $115,000. FNY Managed Accounts LLC acquired a new position in shares of Gogo Inflight Internet in the 4th quarter valued at about $125,000. Pinnacle Associates Ltd. acquired a new position in Gogo Inflight Internet in the fourth quarter worth approximately $127,000. HighPoint Advisor Group LLC acquired a new position in Gogo Inflight Internet in the fourth quarter worth approximately $115,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in Gogo Inflight Internet by 135.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,101 shares of the technology company’s stock worth $159,000 after buying an additional 8,100 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.
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Gogo Inflight Internet Company Profile
Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).
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