Azul (NYSE:AZUL) Stock Rating Lowered by Seaport Res Ptn

Azul (NYSE:AZUL) was downgraded by Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

Other analysts have also recently issued reports about the company. HSBC cut Azul from a “buy” rating to a “hold” rating and set a $2.70 price target on the stock. in a research report on Thursday, September 5th. Barclays decreased their price objective 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 decreased their price target on shares of Azul from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. The Goldman Sachs Group lowered shares of Azul from a “buy” rating to a “neutral” rating and reduced their target price for the company from $6.70 to $4.00 in a research note on Monday, September 23rd. Finally, Hsbc Global Res raised Azul to a “hold” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.59.

Azul Price Performance

NYSE AZUL opened at $3.23 on Thursday. Azul has a fifty-two week low of $2.02 and a fifty-two week high of $11.26. The stock’s 50-day moving average is $3.34 and its two-hundred day moving average is $4.79. The firm has a market cap of $1.36 billion, a P/E ratio of -0.34 and a beta of 1.98.

Azul (NYSE:AZUL) last issued its quarterly earnings results on Monday, August 12th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.63). The firm had revenue of $800.65 million during the quarter, compared to the consensus estimate of $791.43 million. During the same quarter in the prior year, the company posted ($0.81) earnings per share. On average, equities analysts expect that Azul will post -1.73 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AZUL. Creative Planning bought a new stake in shares of Azul during the 3rd quarter worth about $35,000. Perpetual Ltd grew its position in shares of Azul by 4.5% during the 3rd quarter. Perpetual Ltd now owns 2,354,953 shares of the company’s stock worth $8,101,000 after purchasing an additional 100,639 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Azul in the second quarter valued at approximately $51,000. SPX Gestao de Recursos Ltda grew its position in Azul by 13,831.7% during the second quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock worth $1,170,000 after buying an additional 290,465 shares in the last quarter. Finally, Long Focus Capital Management LLC increased its stake in Azul by 106.3% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock worth $17,816,000 after acquiring an additional 2,295,000 shares during the period. 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.