Bank of America Reiterates Underperform Rating for Azul (NYSE:AZUL)

Azul (NYSE:AZUL)‘s stock had its “underperform” rating reiterated by equities research analysts at Bank of America in a research report issued on Thursday, MarketBeat.com reports. They currently have a $9.50 price objective on the stock, down from their previous price objective of $18.00. Bank of America‘s price objective points to a potential upside of 57.02% from the company’s current price.

AZUL has been the subject of a number of other research reports. Barclays decreased their target price on shares of Azul from $14.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, April 1st. Raymond James reissued an “outperform” rating and issued a $12.00 price objective (down previously from $13.00) on shares of Azul in a research report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $12.26.

Azul Stock Up 0.2 %

Azul stock opened at $6.05 on Thursday. Azul has a 1-year low of $5.66 and a 1-year high of $13.86. The company has a fifty day simple moving average of $7.53 and a 200 day simple moving average of $8.42.

Hedge Funds Weigh In On Azul

Hedge funds have recently bought and sold shares of the company. UBS Group AG increased its holdings in Azul by 930.7% in the 2nd quarter. UBS Group AG now owns 3,628 shares of the company’s stock valued at $26,000 after buying an additional 3,276 shares during the period. US Bancorp DE increased its holdings in Azul by 721.4% in the 2nd quarter. US Bancorp DE now owns 1,922 shares of the company’s stock valued at $26,000 after buying an additional 1,688 shares during the period. Tower Research Capital LLC TRC increased its holdings in Azul by 3,578.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,495 shares of the company’s stock valued at $30,000 after buying an additional 3,400 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Azul by 66.7% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,000 shares of the company’s stock valued at $42,000 after buying an additional 2,000 shares during the period. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Azul by 18.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,746 shares of the company’s stock valued at $69,000 after purchasing an additional 1,487 shares during the last quarter. 0.82% of the stock is owned by institutional investors.

Azul Company Profile

Azul SA, together with its subsidiaries, provides scheduled air transportation services in Brazil. As of December 31, 2022, the company operated approximately 1,000 daily departures to 158 destinations through a network of 300 non-stop routes with an operating fleet of 177 aircraft and a passenger contractual fleet of 194 aircraft.