Deutsche Bank Aktiengesellschaft Cuts Azul (NYSE:AZUL) Price Target to $6.00

Azul (NYSE:AZUL) had its target price lowered by Deutsche Bank Aktiengesellschaft from $8.00 to $6.00 in a report published on Tuesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Several other brokerages also recently commented on AZUL. Morgan Stanley started coverage on Azul in a research note on Friday, May 24th. They issued an equal weight rating and a $7.40 target price for the company. Raymond James reaffirmed an outperform rating and issued a $12.00 price target (down previously from $13.00) on shares of Azul in a research report on Monday, April 15th. JPMorgan Chase & Co. cut shares of Azul from an overweight rating to a neutral rating in a research report on Wednesday, July 10th. Bank of America reaffirmed an underperform rating and issued a $9.50 price target (down previously from $18.00) on shares of Azul in a research report on Thursday, April 18th. Finally, Barclays dropped their price target on shares of Azul from $12.00 to $10.00 and set an equal weight rating on the stock in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Azul presently has a consensus rating of Hold and a consensus target price of $10.39.

Azul Price Performance

Shares of AZUL opened at $4.24 on Tuesday. The stock has a 50-day moving average of $4.44 and a 200-day moving average of $6.07. The company has a market cap of $1.79 billion, a PE ratio of -1.74 and a beta of 2.00. Azul has a one year low of $3.70 and a one year high of $11.26.

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

Hedge Funds Weigh In On Azul

Several hedge funds have recently modified their holdings of the company. Long Focus Capital Management LLC lifted its position in shares of Azul by 106.3% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock worth $17,816,000 after buying an additional 2,295,000 shares in the last quarter. U S Global Investors Inc. lifted its position in shares of Azul by 10.4% during the 1st quarter. U S Global Investors Inc. now owns 874,798 shares of the company’s stock worth $6,797,000 after buying an additional 82,077 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Azul by 2,466.5% during the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock worth $2,395,000 after buying an additional 575,344 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of Azul by 46.4% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock worth $659,000 after buying an additional 21,549 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of Azul by 310.0% in the 1st quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock worth $247,000 after purchasing an additional 24,054 shares during the period. Institutional investors own 0.82% of the company’s stock.

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.