Controladora Vuela Compañía de Aviación (NYSE:VLRS) Stock Price Up 5.2% – Here’s Why

Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE:VLRS) shares shot up 5.2% on Thursday . The company traded as high as $8.12 and last traded at $8.10. 340,616 shares were traded during mid-day trading, a decline of 45% from the average session volume of 619,061 shares. The stock had previously closed at $7.70.

Wall Street Analysts Forecast Growth

VLRS has been the topic of several recent analyst reports. Barclays restated an “overweight” rating and set a $12.00 price objective on shares of Controladora Vuela Compañía de Aviación in a report on Thursday, October 24th. StockNews.com upgraded shares of Controladora Vuela Compañía de Aviación from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Controladora Vuela Compañía de Aviación from $16.50 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, TD Cowen lifted their price objective on shares of Controladora Vuela Compañía de Aviación from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $12.85.

Controladora Vuela Compañía de Aviación Stock Performance

The firm has a market capitalization of $939.80 million, a price-to-earnings ratio of 4.86 and a beta of 2.43. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.70 and a quick ratio of 0.69. The firm’s fifty day moving average is $6.85 and its 200 day moving average is $6.77.

Controladora Vuela Compañía de Aviación (NYSE:VLRS) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.19 by $0.13. Controladora Vuela Compañía de Aviación had a net margin of 5.99% and a return on equity of 71.50%. The business had revenue of $813.00 million for the quarter, compared to analysts’ expectations of $795.89 million. During the same period in the previous year, the company posted ($0.33) EPS. On average, analysts predict that Controladora Vuela Compañía de Aviación, S.A.B. de C.V. will post 1.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Controladora Vuela Compañía de Aviación

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Research Global Investors grew its stake in shares of Controladora Vuela Compañía de Aviación by 45.5% in the 1st quarter. Capital Research Global Investors now owns 4,390,624 shares of the transportation company’s stock valued at $32,578,000 after buying an additional 1,372,624 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Controladora Vuela Compañía de Aviación in the second quarter valued at approximately $1,338,000. Perpetual Ltd grew its position in Controladora Vuela Compañía de Aviación by 30.9% in the third quarter. Perpetual Ltd now owns 446,958 shares of the transportation company’s stock worth $2,829,000 after acquiring an additional 105,570 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Controladora Vuela Compañía de Aviación in the 2nd quarter valued at $408,000. Finally, BNP Paribas Financial Markets increased its position in Controladora Vuela Compañía de Aviación by 157.9% during the third quarter. BNP Paribas Financial Markets now owns 84,252 shares of the transportation company’s stock worth $533,000 after buying an additional 51,580 shares during the last quarter. 53.32% of the stock is owned by hedge funds and other institutional investors.

About Controladora Vuela Compañía de Aviación

Controladora Vuela Compañía de Aviación, SAB. de C.V., through its subsidiary, Concesionaria Vuela Compañía de Aviación, SAP.I. de C.V., provides air transportation services for passengers, cargo, and mail in Mexico and internationally. The company operates approximately 590 daily flights on routes connecting 43 cities in Mexico, 22 cities in the United States, 4 cities in Central America, and 2 cities in South America.