Hsbc Global Res Upgrades Azul (NYSE:AZUL) to “Hold”

Azul (NYSE:AZUL) was upgraded by stock analysts at Hsbc Global Res to a “hold” rating in a report issued on Thursday, Zacks.com reports.

Several other research analysts have also weighed in on the company. Morgan Stanley started coverage on Azul in a research report on Friday, May 24th. They issued an “equal weight” rating and a $7.40 price objective for the company. HSBC cut shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 price objective on the stock. in a report on Thursday. Barclays cut their target price on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on Azul from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. downgraded Azul from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.23.

Azul Price Performance

NYSE:AZUL opened at $2.32 on Thursday. The firm has a market cap of $978.04 million, a PE ratio of -0.95 and a beta of 1.97. The company has a 50-day moving average of $4.05 and a 200 day moving average of $5.59. Azul has a 1-year low of $2.25 and a 1-year high of $11.26.

Azul (NYSE:AZUL) last posted its quarterly 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 business had revenue of $800.65 million for the quarter, compared to the consensus estimate of $791.43 million. During the same quarter last year, the firm posted ($0.81) earnings per share. Sell-side analysts anticipate that Azul will post -1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Azul

A number of institutional investors have recently made changes to their positions in AZUL. Signaturefd LLC raised its holdings 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 acquiring an additional 2,812 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Azul during the 2nd quarter worth approximately $51,000. Inspire Advisors LLC grew its stake in Azul by 19.4% in the 1st quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock valued at $145,000 after buying an additional 3,042 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Azul during the fourth quarter worth $214,000. Finally, Coronation Fund Managers Ltd. grew its position in Azul by 16.0% during the first quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock worth $194,000 after buying an additional 3,450 shares in the last quarter. 0.82% of the stock is owned by institutional investors and hedge funds.

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.