Azul (NYSE:AZUL) Shares Gap Down Following Analyst Downgrade

Azul S.A. (NYSE:AZUL) shares gapped down before the market opened on Wednesday after Raymond James lowered their price target on the stock from $6.00 to $5.00. The stock had previously closed at $2.24, but opened at $2.16. Raymond James currently has an outperform rating on the stock. Azul shares last traded at $2.12, with a volume of 170,117 shares.

Several other equities analysts also recently commented on AZUL. The Goldman Sachs Group lowered their price target on Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Seaport Res Ptn raised shares of Azul from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.40.

Institutional Investors Weigh In On Azul

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Trellis Wealth Advisors LLC bought a new stake in Azul in the 4th quarter valued at $32,000. Creative Planning bought a new stake in Azul in the third quarter valued at about $35,000. Ground Swell Capital LLC acquired a new position in Azul in the third quarter worth about $44,000. Sanctuary Advisors LLC bought a new position in Azul during the second quarter worth about $51,000. Finally, Van ECK Associates Corp boosted its holdings in Azul by 16.3% during the fourth quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock valued at $106,000 after purchasing an additional 8,899 shares in the last quarter. Institutional investors and hedge funds own 0.82% of the company’s stock.

Azul Stock Down 7.8 %

The business has a fifty day simple moving average of $2.09 and a two-hundred day simple moving average of $2.85. The company has a market capitalization of $870.54 million, a price-to-earnings ratio of -0.29 and a beta of 1.99.

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.