Azul (NYSE:AZUL) Shares Down 7.1%

Azul S.A. (NYSE:AZULGet Free Report) shares dropped 7.1% on Friday . The stock traded as low as $5.11 and last traded at $5.11. Approximately 1,315,933 shares traded hands during trading, a decline of 17% from the average daily volume of 1,589,928 shares. The stock had previously closed at $5.50.

Analyst Ratings Changes

AZUL has been the topic of several recent analyst reports. Raymond James restated an “outperform” rating and set a $12.00 target price (down from $13.00) on shares of Azul in a research report on Monday, April 15th. Bank of America restated an “underperform” rating and set a $9.50 target price (down from $18.00) on shares of Azul in a research report on Thursday, April 18th. Barclays lowered their target price on shares of Azul from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 15th. Finally, Morgan Stanley initiated coverage on shares of Azul in a research report on Friday, May 24th. They set an “equal weight” rating and a $7.40 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.12.

Read Our Latest Analysis on AZUL

Azul Price Performance

The firm’s 50-day moving average price is $6.20 and its 200 day moving average price is $7.78. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -2.12 and a beta of 2.05.

Azul (NYSE:AZULGet Free Report) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.04). The firm had revenue of $945.00 million for the quarter, compared to analyst estimates of $968.17 million. On average, analysts predict that Azul S.A. will post -0.93 earnings per share for the current fiscal year.

Institutional Trading of Azul

Hedge funds have recently bought and sold shares of the company. Inspire Advisors LLC boosted its position in Azul by 19.4% during the first quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock worth $145,000 after acquiring an additional 3,042 shares during the last quarter. Coronation Fund Managers Ltd. boosted 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 acquiring an additional 3,450 shares during the last quarter. AXQ Capital LP acquired a new stake in Azul during the third quarter worth approximately $205,000. Aigen Investment Management LP acquired a new stake in Azul during the fourth quarter worth approximately $214,000. Finally, Quantbot Technologies LP raised its stake in Azul by 310.0% during the first 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. Institutional investors and hedge funds own 0.82% of the company’s stock.

Azul Company Profile

(Get Free Report)

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.

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