Azul (NYSE:AZUL) Trading Up 5.1%

Shares of Azul S.A. (NYSE:AZUL) shot up 5.1% on Wednesday . The stock traded as high as $2.70 and last traded at $2.67. 2,254,708 shares changed hands during mid-day trading, an increase of 24% from the average session volume of 1,815,116 shares. The stock had previously closed at $2.54.

Wall Street Analysts Forecast Growth

AZUL has been the subject of several recent research reports. Morgan Stanley assumed coverage on Azul in a research report on Friday, May 24th. They set an “equal weight” rating and a $7.40 price objective for the company. Barclays lowered their price objective on Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. cut shares of Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Azul currently has an average rating of “Hold” and an average target price of $9.60.

Azul Stock Up 1.2 %

The company has a market cap of $1.08 billion, a PE ratio of -1.11 and a beta of 2.00. The company’s fifty day moving average is $4.14 and its 200-day moving average is $5.67.

Azul (NYSE:AZUL) last announced its earnings results on Monday, August 12th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.63). The business had revenue of $800.65 million during the quarter, compared to analyst estimates of $791.43 million. During the same quarter last year, the firm earned ($0.81) earnings per share. Equities research analysts expect that Azul S.A. will post -1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Azul

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC increased its stake in shares of Azul by 35.9% in the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after purchasing an additional 2,812 shares in the last quarter. Inspire Advisors LLC boosted its stake in shares of Azul by 19.4% in the first quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock worth $145,000 after acquiring an additional 3,042 shares during the period. Aigen Investment Management LP bought a new stake in Azul during the 4th quarter valued at approximately $214,000. Coronation Fund Managers Ltd. raised its stake in Azul by 16.0% during the 1st quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock valued at $194,000 after purchasing an additional 3,450 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in 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 in the last quarter. 0.82% of the stock is currently owned by hedge funds and other institutional investors.

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.