Azul (NYSE:AZUL) Shares Gap Down to $4.24

Azul S.A. (NYSE:AZUL) shares gapped down prior to trading on Monday . The stock had previously closed at $4.24, but opened at $4.12. Azul shares last traded at $4.05, with a volume of 385,575 shares traded.

Analysts Set New Price Targets

Several brokerages have recently commented on AZUL. Barclays decreased their price objective on shares of Azul from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 15th. Morgan Stanley assumed coverage on Azul in a research report on Friday, May 24th. They issued an “equal weight” rating and a $7.40 price objective on the stock. Bank of America reiterated an “underperform” rating and set a $9.50 target price (down previously from $18.00) on shares of Azul in a research report on Thursday, April 18th. JPMorgan Chase & Co. downgraded Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 10th. Finally, Raymond James restated an “outperform” rating and issued a $12.00 price target (down from $13.00) on shares of Azul in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.12.

Azul Stock Performance

The firm has a fifty day simple moving average of $4.54 and a two-hundred day simple moving average of $6.16. The firm has a market cap of $1.64 billion, a PE ratio of -1.64 and a beta of 2.00.

Azul (NYSE:AZUL) last posted its earnings results on Monday, May 13th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.04). The company had revenue of $945.00 million for the quarter, compared to analysts’ expectations of $968.17 million. Equities analysts forecast that Azul S.A. will post -1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. U S Global Investors Inc. boosted its holdings 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 purchasing an additional 82,077 shares during the period. Dynamic Technology Lab Private Ltd increased its position in Azul by 46.4% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock valued at $659,000 after acquiring an additional 21,549 shares during the last quarter. Quantbot Technologies LP increased its position in Azul by 310.0% during the first 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. Coronation Fund Managers Ltd. raised its stake in shares of 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 acquiring an additional 2,380 shares during the period. Finally, Inspire Advisors LLC lifted its holdings in shares of Azul by 20.1% in the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after acquiring an additional 3,764 shares during the last quarter. 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.