Azul (NYSE:AZUL) Price Target Cut to $4.50

Azul (NYSE:AZUL) had its price objective trimmed by Barclays from $10.00 to $4.50 in a research note released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other analysts have also recently commented on the company. JPMorgan Chase & Co. cut Azul from an overweight rating to a neutral rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Azul from $8.00 to $6.00 and set a buy rating on the stock in a research report on Tuesday, August 13th. Finally, Morgan Stanley initiated coverage on shares of Azul in a research note on Friday, May 24th. They set an equal weight rating and a $7.40 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $9.60.

Azul Stock Performance

Shares of AZUL opened at $3.96 on Monday. The stock has a market capitalization of $1.67 billion, a P/E ratio of -1.62 and a beta of 2.00. Azul has a 1 year low of $3.70 and a 1 year high of $11.26. The company’s fifty day moving average is $4.33 and its two-hundred day moving average is $5.93.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Long Focus Capital Management LLC boosted its stake in Azul by 106.3% in the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock valued at $17,816,000 after acquiring an additional 2,295,000 shares during the period. Marshall Wace LLP boosted its position in Azul by 2,466.5% during the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after purchasing an additional 575,344 shares during the period. Inspire Advisors LLC grew its stake in Azul by 20.1% during the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after buying an additional 3,764 shares during the last quarter. Signaturefd LLC increased its position in Azul by 35.9% in the second 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 period. Finally, Coronation Fund Managers Ltd. lifted its stake 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 buying an additional 2,380 shares during the last quarter. Institutional investors and hedge funds 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.