Azul SA (AZUL) Downgraded to “Hold” at Zacks Investment Research

Azul SA (NASDAQ:AZUL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, October 17th.

According to Zacks, “Azul SA is a holding company for the providers of airline passenger and cargo services. Azul SA is headquartered in Barueri, Brazil. “

Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Azul SA from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 27th. Buckingham Research reissued a “buy” rating and issued a $35.00 price objective (up previously from $33.00) on shares of Azul SA in a report on Monday, September 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Azul SA currently has an average rating of “Buy” and a consensus price target of $32.25.

Shares of Azul SA (AZUL) traded up $0.64 during trading hours on Tuesday, reaching $24.69. The company’s stock had a trading volume of 192,906 shares, compared to its average volume of 307,004. Azul SA has a 12-month low of $19.43 and a 12-month high of $29.43.

Azul SA (NASDAQ:AZUL) last announced its quarterly earnings results on Monday, August 14th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.11). Azul SA had a negative net margin of 1.97% and a negative return on equity of 8.12%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.75 billion. The firm’s revenue was up 19.4% on a year-over-year basis.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. bought a new position in Azul SA in the second quarter valued at about $101,000. Frontier Capital Management Co. LLC bought a new stake in Azul SA in the second quarter worth approximately $128,000. Simplex Trading LLC bought a new stake in Azul SA in the third quarter worth approximately $160,000. CNH Partners LLC bought a new stake in Azul SA in the second quarter worth approximately $316,000. Finally, First Trust Advisors LP bought a new stake in shares of Azul SA during the third quarter valued at approximately $323,000.

About Azul SA

Azul SA is a Brazil-based company engaged in the provision of passenger transportation services. The Company primarily acts as an airline operator under the Azul brand name. The Company provides scheduled flights between numerous cities in Brazil, including Sao Paulo, Brasilia, Rio de Janeiro, Belo Horizonte, Porto Alegre, Curitiba, Manaus, Cuiaba, Fortaleza and Salvador, among others.

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