Azul (NYSE:AZUL) Rating Increased to Strong-Buy at Seaport Res Ptn

Azul (NYSE:AZUL) was upgraded by analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Separately, The Goldman Sachs Group cut their price target on shares of Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Azul currently has an average rating of “Hold” and a consensus target price of $6.40.

Azul Price Performance

AZUL opened at $2.35 on Thursday. Azul has a 1 year low of $1.57 and a 1 year high of $8.73. The company has a market capitalization of $988.58 million, a price-to-earnings ratio of -0.33 and a beta of 1.95. The firm’s fifty day moving average price is $2.17 and its two-hundred day moving average price is $3.06.

Hedge Funds Weigh In On Azul

Several institutional investors have recently added to or reduced their stakes in the stock. Perpetual Ltd raised its position in Azul by 5.1% in the fourth quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock worth $4,132,000 after acquiring an additional 119,023 shares during the period. XTX Topco Ltd purchased a new stake in shares of Azul during the 3rd quarter worth approximately $614,000. Jane Street Group LLC raised its holdings in shares of Azul by 58.9% in the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after purchasing an additional 75,291 shares during the period. Centiva Capital LP lifted its stake in Azul by 205.3% in the third quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock valued at $692,000 after purchasing an additional 135,365 shares during the last quarter. Finally, Ground Swell Capital LLC bought a new position in Azul during the third quarter valued at $44,000. Institutional investors own 0.82% of the company’s stock.

About Azul

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.