The Goldman Sachs Group Lowers Azul (NYSE:AZUL) Price Target to $2.70

Azul (NYSE:AZUL) had its price target cut by equities researchers at The Goldman Sachs Group from $3.10 to $2.70 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 15.14% from the stock’s previous close.

Separately, Seaport Res Ptn lowered shares of Azul from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.40.

Azul Price Performance

NYSE:AZUL opened at $2.35 on Thursday. The company has a 50 day moving average price of $2.17 and a 200-day moving average price of $3.06. Azul has a 1-year low of $1.57 and a 1-year high of $8.73. The firm has a market cap of $988.58 million, a price-to-earnings ratio of -0.33 and a beta of 1.95.

Institutional Trading of Azul

Institutional investors and hedge funds have recently modified their holdings of the stock. SPX Gestao de Recursos Ltda lifted its stake in Azul by 13,831.7% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock valued at $1,170,000 after buying an additional 290,465 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Azul by 58.9% in the third quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock valued at $699,000 after acquiring an additional 75,291 shares in the last quarter. Long Focus Capital Management LLC boosted its stake in shares of Azul by 106.3% in 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 during the last quarter. Marshall Wace LLP boosted its stake in shares of Azul by 2,466.5% in the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock worth $2,395,000 after acquiring an additional 575,344 shares during the last quarter. Finally, Creative Planning purchased a new stake in shares of Azul during the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 0.82% of the company’s stock.

About Azul

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.