Azul (NYSE:AZUL) Upgraded at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Azul (NYSE:AZUL) from a hold rating to a strong-buy rating in a research note released on Thursday,Zacks.com reports.

Separately, The Goldman Sachs Group reduced their target price on Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a research note on Thursday. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Azul currently has a consensus rating of “Hold” and a consensus target price of $6.40.

Azul Stock Performance

Azul stock opened at $2.35 on Thursday. The firm has a market capitalization of $988.58 million, a PE ratio of -0.33 and a beta of 1.95. The stock’s 50 day moving average price is $2.17 and its 200 day moving average price is $3.06. Azul has a one year low of $1.57 and a one year high of $8.73.

Institutional Investors Weigh In On Azul

Hedge funds have recently bought and sold shares of the business. Long Focus Capital Management LLC raised its holdings in shares of Azul by 106.3% during the second 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 in the last quarter. Perpetual Ltd boosted its position in Azul by 5.1% during the fourth quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock worth $4,132,000 after purchasing an additional 119,023 shares during the period. Marshall Wace LLP grew its stake in Azul by 2,466.5% in the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after buying an additional 575,344 shares during the last quarter. SPX Gestao de Recursos Ltda grew its position in shares of Azul by 13,831.7% in the second quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock valued at $1,170,000 after purchasing an additional 290,465 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Azul by 58.9% in the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after buying an additional 75,291 shares during the period. 0.82% of the stock is owned by hedge funds and other institutional investors.

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.