Azul (NYSE:AZUL) Sets New 52-Week Low at $4.56

Shares of Azul S.A. (NYSE:AZUL) hit a new 52-week low on Thursday . The stock traded as low as $4.56 and last traded at $4.59, with a volume of 418677 shares. The stock had previously closed at $4.68.

Analysts Set New Price Targets

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

Azul Stock Performance

The stock has a 50-day simple moving average of $5.67 and a 200 day simple moving average of $7.39. The company has a market cap of $1.80 billion, a P/E ratio of -1.75 and a beta of 2.05.

Azul (NYSE:AZUL) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.57) 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. Sell-side analysts anticipate that Azul S.A. will post -0.93 earnings per share for the current fiscal year.

Institutional Trading of Azul

A number of hedge funds have recently modified their holdings of the company. U S Global Investors Inc. lifted its position 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 worth $6,797,000 after acquiring an additional 82,077 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Azul during the 3rd quarter worth approximately $4,999,000. Dynamic Technology Lab Private Ltd lifted its position in shares of Azul by 46.4% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock worth $659,000 after buying an additional 21,549 shares during the period. Quantbot Technologies LP lifted its position in shares of Azul by 310.0% during the 1st 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. Finally, Coronation Fund Managers Ltd. lifted its position in shares of Azul by 16.0% during the 1st quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock worth $194,000 after buying an additional 3,450 shares during the period. 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.