Azul (NYSE:AZUL) Trading 6.9% Higher

Azul S.A. (NYSE:AZUL) shares were up 6.9% on Friday . The stock traded as high as $3.27 and last traded at $3.26. Approximately 1,229,150 shares were traded during trading, a decline of 40% from the average daily volume of 2,038,908 shares. The stock had previously closed at $3.05.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AZUL. Barclays cut their price objective on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Azul from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Hsbc Global Res raised shares of Azul to a “hold” rating in a report on Thursday, September 5th. HSBC downgraded Azul from a “buy” rating to a “hold” rating and set a $2.70 price objective on the stock. in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group cut Azul from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $6.70 to $4.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Azul has a consensus rating of “Hold” and an average price target of $6.59.

Azul Stock Up 5.2 %

The company has a market capitalization of $1.35 billion, a PE ratio of -1.25 and a beta of 1.97. The firm’s 50-day moving average is $3.55 and its 200-day moving average is $5.15.

Azul (NYSE:AZUL) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $791.43 million. During the same period in the prior year, the firm earned ($0.81) EPS. As a group, equities research analysts predict that Azul S.A. will post -1.39 EPS for the current year.

Institutional Investors Weigh In On Azul

A number of institutional investors have recently made changes to their positions in AZUL. Long Focus Capital Management LLC lifted 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 worth $17,816,000 after purchasing an additional 2,295,000 shares during the last quarter. Marshall Wace LLP grew 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 worth $2,395,000 after acquiring an additional 575,344 shares during the last quarter. SPX Gestao de Recursos Ltda grew its position in Azul by 13,831.7% during the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock worth $1,170,000 after acquiring an additional 290,465 shares during the last quarter. Quantbot Technologies LP increased its stake 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 during the period. Finally, Coronation Fund Managers Ltd. boosted its stake 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 valued at $109,000 after purchasing an additional 2,380 shares during the period. Hedge funds and other institutional investors 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.