Azul (NYSE:AZUL) Shares Gap Up to $3.84

Azul S.A. (NYSE:AZUL) shares gapped up before the market opened on Wednesday . The stock had previously closed at $3.84, but opened at $4.03. Azul shares last traded at $4.07, with a volume of 185,166 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AZUL shares. Barclays cut their price target on Azul from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 15th. Raymond James reissued an “outperform” rating and set a $12.00 price objective (down previously from $13.00) on shares of Azul in a report on Monday, April 15th. Bank of America reissued an “underperform” rating and set a $9.50 price objective (down previously from $18.00) on shares of Azul in a report on Thursday, April 18th. Finally, Morgan Stanley initiated coverage on Azul in a report on Friday, May 24th. They set an “equal weight” rating and a $7.40 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.12.

Azul Trading Up 7.6 %

The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -1.69 and a beta of 2.01. The stock has a fifty day simple moving average of $5.35 and a 200-day simple moving average of $7.03.

Azul (NYSE:AZUL) last released its earnings results on Monday, May 13th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.04). The business had revenue of $945.00 million during the quarter, compared to analysts’ expectations of $968.17 million. Sell-side analysts forecast that Azul S.A. will post -0.81 earnings per share for the current fiscal year.

Institutional Trading of Azul

Institutional investors have recently modified their holdings of the company. Aigen Investment Management LP acquired a new stake in shares of Azul during the 4th quarter worth approximately $214,000. Dynamic Technology Lab Private Ltd grew its holdings 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 purchasing an additional 21,549 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Azul by 310.0% during 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. Inspire Advisors LLC grew its holdings in shares of Azul by 19.4% during the 1st quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock worth $145,000 after purchasing an additional 3,042 shares in the last quarter. Finally, Coronation Fund Managers Ltd. grew its holdings in shares of Azul by 16.0% during the 1st quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock worth $194,000 after purchasing an additional 3,450 shares in the last quarter. 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.