Azul (NYSE:AZUL) Reaches New 1-Year Low at $4.02

Azul S.A. (NYSE:AZUL)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $4.02 and last traded at $4.10, with a volume of 859669 shares. The stock had previously closed at $4.27.

Wall Street Analyst Weigh In

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

Azul Price Performance

The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -1.75 and a beta of 2.05. The firm has a 50 day moving average price of $5.52 and a 200-day moving average price of $7.23.

Azul (NYSE:AZUL) last posted its quarterly 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 the consensus estimate of $968.17 million. Equities research analysts predict that Azul S.A. will post -0.81 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. U S Global Investors Inc. raised its holdings in shares of Azul by 10.4% in the 1st quarter. U S Global Investors Inc. now owns 874,798 shares of the company’s stock valued at $6,797,000 after purchasing an additional 82,077 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Azul during the 3rd quarter worth about $4,999,000. Dynamic Technology Lab Private Ltd lifted its stake in Azul by 46.4% during the fourth 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 during the last quarter. Quantbot Technologies LP boosted its holdings in Azul by 310.0% in the first quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock valued at $247,000 after purchasing an additional 24,054 shares in the last quarter. Finally, Coronation Fund Managers Ltd. increased its stake in Azul by 16.0% in the first quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock valued at $194,000 after purchasing an additional 3,450 shares during the last quarter. 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.