Azul (NYSE:AZUL) Hits New 12-Month Low at $3.40

Azul S.A. (NYSE:AZUL) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $3.40 and last traded at $3.40, with a volume of 420179 shares. The stock had previously closed at $3.85.

Analysts Set New Price Targets

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

Azul Trading Down 3.1 %

The company has a market capitalization of $1.19 billion, a P/E ratio of -1.16 and a beta of 2.00. The firm’s 50 day moving average price is $4.21 and its two-hundred day moving average price is $5.76.

Azul (NYSE:AZUL) last released its quarterly earnings data on Monday, August 12th. The company reported ($1.23) 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 period in the previous year, the firm posted ($0.81) earnings per share. Analysts anticipate that Azul S.A. will post -1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Azul

Several large investors have recently made changes to their positions in AZUL. Long Focus Capital Management LLC boosted its holdings in shares of Azul by 106.3% in the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock valued at $17,816,000 after buying an additional 2,295,000 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of 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 boosted its holdings in shares of 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 during the last quarter. U S Global Investors Inc. lifted its holdings in Azul by 10.4% during the 1st quarter. U S Global Investors Inc. now owns 874,798 shares of the company’s stock valued at $6,797,000 after purchasing an additional 82,077 shares during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in Azul by 310.0% during the 1st quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock valued at $247,000 after purchasing an additional 24,054 shares during the last quarter. Institutional investors and hedge funds 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.