Azul (NYSE:AZUL) Trading Up 5.3%

Shares of Azul S.A. (NYSE:AZUL) rose 5.3% on Wednesday . The company traded as high as $4.20 and last traded at $4.19. Approximately 193,662 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,658,523 shares. The stock had previously closed at $3.98.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AZUL shares. Bank of America reissued an “underperform” rating and issued a $9.50 price objective (down from $18.00) on shares of Azul in a research note on Thursday, April 18th. Morgan Stanley began coverage on shares of Azul in a research report on Friday, May 24th. They issued an “equal weight” rating and a $7.40 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays lowered their target price on Azul from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. downgraded Azul from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.39.

Azul Price Performance

The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -1.67 and a beta of 2.00. The stock’s 50-day moving average is $4.44 and its 200-day moving average is $6.07.

Azul (NYSE:AZUL) last issued its quarterly earnings results on Monday, August 12th. The company reported ($1.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.63). The business had revenue of $800.65 million during the quarter, compared to the consensus estimate of $791.43 million. During the same quarter in the previous year, the company posted ($0.81) earnings per share. Analysts predict that Azul S.A. will post -1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Coronation Fund Managers Ltd. grew its holdings in Azul by 9.5% in the second quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock valued at $109,000 after purchasing an additional 2,380 shares during the period. Signaturefd LLC increased its holdings in shares of Azul by 35.9% during the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after buying an additional 2,812 shares during the last quarter. Inspire Advisors LLC raised its position in shares of Azul by 19.4% in the 1st quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock worth $145,000 after buying an additional 3,042 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in Azul by 46.4% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock valued at $659,000 after acquiring an additional 21,549 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Azul during the fourth quarter valued at about $214,000. 0.82% of the stock is currently owned by hedge funds and other institutional investors.

Azul Company Profile

Azul SA, together with its subsidiaries, provides air transportation services in Brazil and internationally. As of December 31, 2023, the company operated approximately 1,000 daily departures to 160 destinations through a network of 300 non-stop routes with an operating fleet of 183 aircraft and a passenger contractual fleet of 189 aircraft.