Seaport Res Ptn Lowers Azul (NYSE:AZUL) to Hold

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

Several other research firms have also recently issued reports on AZUL. HSBC cut Azul from a buy rating to a hold rating and set a $2.70 price objective for the company. in a research report on Thursday, September 5th. Barclays decreased their price objective on Azul from $10.00 to $4.50 and set an equal weight rating on the stock in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their target price on Azul from $8.00 to $6.00 and set a buy rating on the stock in a research report on Tuesday, August 13th. JPMorgan Chase & Co. downgraded Azul from an overweight rating to a neutral rating in a research report on Wednesday, July 10th. Finally, Hsbc Global Res upgraded Azul to a hold rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Azul has a consensus rating of Hold and a consensus price target of $6.59.

Azul Stock Performance

Shares of AZUL opened at $3.24 on Thursday. The stock has a 50-day simple moving average of $3.34 and a 200-day simple moving average of $4.74. The stock has a market capitalization of $1.37 billion, a PE ratio of -1.33 and a beta of 1.98. Azul has a 1 year low of $2.02 and a 1 year high of $11.26.

Azul (NYSE:AZUL) last announced its quarterly earnings results on Monday, August 12th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.63). The company had revenue of $800.65 million during the quarter, compared to analysts’ expectations of $791.43 million. During the same period last year, the business earned ($0.81) earnings per share. Analysts predict that Azul will post -1.73 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AZUL. Long Focus Capital Management LLC increased its holdings 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 valued at $17,816,000 after buying an additional 2,295,000 shares in the last quarter. Perpetual Ltd raised its holdings in shares of Azul by 4.5% in the 3rd quarter. Perpetual Ltd now owns 2,354,953 shares of the company’s stock worth $8,101,000 after buying an additional 100,639 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Azul by 2,466.5% during the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after acquiring an additional 575,344 shares during the period. SPX Gestao de Recursos Ltda lifted its position in shares of Azul by 13,831.7% during the second quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock worth $1,170,000 after purchasing an additional 290,465 shares in the last quarter. Finally, Quantbot Technologies LP raised 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 valued at $247,000 after acquiring an additional 24,054 shares during the last quarter. Institutional investors and hedge funds 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.