Azul (NYSE:AZUL) shares drop to $4.22

Shares of Azul SA (NYSE:AZUL – Get your free report ) were lower in pre-market trading on Thursday. The stock had previously closed at $4.22 but opened at $4.12. Azul shares last traded at $4.09 with a volume of 190,575 shares.

Changes in Analyst Ratings

A number of equities analysts have commented on AZUL shares. Morgan Stanley initiated coverage on Azul in a research note on Friday, May 24th. They set an “equal weight” rating and a $7.40 price objective on the stock. JPMorgan Chase & Co. cut Azul from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, Barclays reduced their price objective on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Monday, August 19th . One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $9.60.

Read our latest review of Azul

Azul stock 3.8%

The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -1.68 and a beta of 2.00. The firm has a 50 day moving average of $4.31 and a two hundred day moving average of $5.90.

Azul (NYSE:AZUL – Get Your Free Report ) last posted its quarterly earnings results on Monday, August 12th. The company reported ($1.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.63). The firm had revenue of $800.65 million for the quarter, compared to the consensus estimate of $791.43 million. In the same quarter last year, the firm posted ($0.81) EPS. sell-side analysts forecast that Azul SA will post -1.03 EPS for the current fiscal year.

Institutional inputs and outputs

Several institutional investors have recently modified their holdings of the stock. Signaturefd LLC boosted its holdings in shares of Azul by 35.9% during the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock valued at $43,000 after acquiring an additional 2,812 shares in the last quarter. Inspire Advisors LLC boosted its holdings in shares of Azul by 20.1% in the second quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after buying an additional 3,764 shares in the last quarter. Coronation Fund Managers Ltd. boosted its stake in Azul by 9.5% in the second quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock valued at $109,000 after purchasing an additional 2,380 shares during the period. Aigen Investment Management LP bought a new position in Azul in the 4th quarter valued at about $214,000. Finally, Quantbot Technologies LP boosted its position in Azul by 310.0% in the first quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock worth $247,000 after buying an additional 24,054 shares during the period. 0.82% of the shares are currently owned by institutional investors and hedge funds.

Azul Company Profile

(Get a free report)

Azul SA, together with its subsidiaries, provides air transport services in Brazil and internationally. As of December 31, 2023, the company operated approximately 1,000 daily departures to 160 destinations over a network of 300 non-stop routes with an operational fleet of 183 aircraft and a contract passenger fleet of 189 aircraft.

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