Volaris (VLRS) Shares Down 18% on Analyst Downgrade

Volaris (NYSE:VLRS) shares dropped 18% on Monday after Barclays downgraded the stock from an overweight rating to a hold rating. Barclays now has a $8.00 price target on the stock. Volaris traded as low as $7.00 and last traded at $5.75. Approximately 3,499,722 shares traded hands during trading, an increase of 404% from the average daily volume of 694,722 shares. The stock had previously closed at $7.01.

VLRS has been the subject of a number of other research reports. ValuEngine downgraded shares of Volaris from a “sell” rating to a “strong sell” rating in a report on Saturday. Cowen reaffirmed an “outperform” rating and issued a $12.00 price target (up previously from $11.00) on shares of Volaris in a report on Friday, February 23rd. Citigroup raised shares of Volaris from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a report on Tuesday, February 20th. UBS raised shares of Volaris from a “neutral” rating to a “buy” rating and set a $13.00 price target for the company in a report on Friday, February 16th. Finally, Zacks Investment Research raised shares of Volaris from a “sell” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Volaris has a consensus rating of “Hold” and a consensus target price of $11.83.

A number of hedge funds and other institutional investors have recently made changes to their positions in VLRS. First Mercantile Trust Co. bought a new stake in Volaris in the fourth quarter worth about $243,000. Lenox Wealth Management Inc. lifted its stake in Volaris by 21.7% in the fourth quarter. Lenox Wealth Management Inc. now owns 38,473 shares of the transportation company’s stock worth $309,000 after purchasing an additional 6,862 shares during the last quarter. Virtu Financial LLC bought a new stake in Volaris in the fourth quarter worth about $504,000. Oppenheimer & Co. Inc. lifted its stake in Volaris by 91.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 79,800 shares of the transportation company’s stock worth $640,000 after purchasing an additional 38,100 shares during the last quarter. Finally, Adalta Capital Management LLC lifted its stake in Volaris by 52.9% in the fourth quarter. Adalta Capital Management LLC now owns 79,839 shares of the transportation company’s stock worth $640,000 after purchasing an additional 27,629 shares during the last quarter.

The stock has a market capitalization of $615.38, a P/E ratio of -19.23 and a beta of -0.02.

Volaris (NYSE:VLRS) last issued its earnings results on Wednesday, February 21st. The transportation company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.06. The business had revenue of $336.00 million for the quarter, compared to analyst estimates of $353.00 million. Volaris had a negative net margin of 1.63% and a negative return on equity of 4.30%. analysts forecast that Volaris will post 0.55 EPS for the current fiscal year.

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About Volaris

Controladora Vuela Compañía de Aviación, SAB. de C.V. provides air transportation services for passengers, cargo, and mail in Mexico and internationally. As of December 31, 2016, the company operated a fleet of 69 Airbus narrow-body aircraft, which include 15 Airbus A319s, 44 A320s, and 10 A321s. It operates approximately 302 daily flights on routes that connect 40 cities in Mexico and 22 cities in the United States and Central America.

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