Azul (NYSE:AZUL) Shares Gap Up – What’s Next?

Azul S.A. (NYSE:AZUL)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $2.80, but opened at $3.06. Azul shares last traded at $3.11, with a volume of 616,942 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AZUL. JPMorgan Chase & Co. downgraded shares of Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 10th. Seaport Res Ptn downgraded shares of Azul from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. The Goldman Sachs Group downgraded Azul from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $6.70 to $4.00 in a research report on Monday, September 23rd. Finally, HSBC downgraded Azul from a “buy” rating to a “hold” rating and set a $2.70 target price on the stock. in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.59.

Azul Price Performance

The stock has a market cap of $1.26 billion, a PE ratio of -1.23 and a beta of 1.98. The stock has a 50-day simple moving average of $3.09 and a 200-day simple moving average of $4.35.

Azul (NYSE:AZUL) last released its quarterly earnings data on Monday, August 12th. The company reported ($1.23) earnings per share 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 analyst estimates of $791.43 million. During the same quarter in the prior year, the company earned ($0.81) earnings per share. As a group, equities research analysts anticipate that Azul S.A. will post -1.73 EPS for the current year.

Institutional Investors Weigh In On Azul

Several institutional investors have recently bought and sold shares of the business. Coronation Fund Managers Ltd. lifted its holdings 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 valued at $194,000 after acquiring an additional 3,450 shares in the last quarter. Quantbot Technologies LP raised its position in Azul by 310.0% in the first 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 period. Inspire Advisors LLC lifted its stake in shares of Azul by 19.4% during the first quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock worth $145,000 after purchasing an additional 3,042 shares in the last quarter. Signaturefd LLC boosted its position in shares of Azul by 35.9% in the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after buying an additional 2,812 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Azul by 2,466.5% in the second 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 in the last quarter. 0.82% of the stock is currently owned by hedge funds and other institutional investors.

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.