Azul SA (NYSE:AZUL)’s stock price dropped 5.5% during mid-day trading on Friday . The company traded as low as $35.75 and last traded at $36.13, approximately 792,760 shares changed hands during trading. An increase of 44% from the average daily volume of 551,715 shares. The stock had previously closed at $38.22.
AZUL has been the subject of a number of research reports. ValuEngine raised shares of Azul from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 29th. Raymond James lifted their target price on shares of Azul from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Buckingham Research raised shares of Azul from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $39.00 to $51.00 in a research note on Monday, October 28th. Deutsche Bank lifted their price objective on shares of Azul from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Barclays set a $46.00 price objective on shares of Azul and gave the company a “hold” rating in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Azul presently has a consensus rating of “Hold” and an average price target of $41.18.
The firm’s 50 day moving average is $37.25 and its 200-day moving average is $34.70. The firm has a market cap of $16.71 billion, a price-to-earnings ratio of 22.72 and a beta of -0.51.
Hedge funds have recently added to or reduced their stakes in the stock. ThornTree Capital Partners LP lifted its stake in shares of Azul by 2.6% in the 2nd quarter. ThornTree Capital Partners LP now owns 617,711 shares of the company’s stock valued at $20,656,000 after purchasing an additional 15,764 shares during the last quarter. Atria Investments LLC acquired a new position in Azul during the 2nd quarter worth $556,000. Capital International Sarl acquired a new position in Azul during the 2nd quarter worth $1,464,000. Pinebridge Investments L.P. acquired a new position in Azul during the 2nd quarter worth $1,921,000. Finally, JPMorgan Chase & Co. lifted its position in Azul by 24.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 85,410 shares of the company’s stock worth $2,814,000 after acquiring an additional 16,582 shares during the last quarter. 4.71% of the stock is owned by institutional investors and hedge funds.
Azul Company Profile (NYSE:AZUL)
Azul SA provides passenger and cargo air transportation services in Brazil. As of March 31, 2018, it operated 739 daily flights to 106 destinations through a network of 206 non-stop routes with a fleet of 120 aircraft. The company was incorporated in 2008 and is headquartered in Barueri, Brazil.
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