Azul (NYSE:AZUL) Trading Down 4% – Time to Sell?

Azul S.A. (NYSE:AZUL)’s share price fell 4% during mid-day trading on Friday . The stock traded as low as $3.12 and last traded at $3.12. 324,801 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,010,811 shares. The stock had previously closed at $3.25.

Analysts Set New Price Targets

Several research firms recently issued reports on AZUL. JPMorgan Chase & Co. cut Azul from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 10th. Seaport Res Ptn cut Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. The Goldman Sachs Group cut Azul from a “buy” rating to a “neutral” rating and decreased their price target for the company from $6.70 to $4.00 in a report on Monday, September 23rd. Hsbc Global Res upgraded Azul to a “hold” rating in a report on Thursday, September 5th. Finally, HSBC cut Azul from a “buy” rating to a “hold” rating and set a $2.70 price target on the stock. in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.59.

Azul Price Performance

The firm has a 50 day simple moving average of $3.25 and a two-hundred day simple moving average of $4.62. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -1.28 and a beta of 1.98.

Azul (NYSE:AZUL) last released its earnings results on Monday, August 12th. The company reported ($1.23) earnings per share 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 analysts’ expectations of $791.43 million. During the same quarter last year, the firm earned ($0.81) earnings per share. On average, sell-side analysts expect that Azul S.A. will post -1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Azul

Hedge funds have recently modified their holdings of the business. Creative Planning acquired a new stake in shares of Azul during the third quarter worth about $35,000. Signaturefd LLC raised its position in shares of Azul by 35.9% during 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 during the period. Sanctuary Advisors LLC acquired a new stake in shares of Azul during the second quarter worth about $51,000. Inspire Advisors LLC raised its position in shares of Azul by 20.1% during the second quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after purchasing an additional 3,764 shares during the period. Finally, Coronation Fund Managers Ltd. raised its position in shares of Azul by 9.5% during the second quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock worth $109,000 after purchasing an additional 2,380 shares during the period. Institutional investors and hedge funds 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.