Azul (NYSE:AZUL) Shares Gap Down to $4.74

Azul S.A. (NYSE:AZUL) shares gapped down prior to trading on Friday . The stock had previously closed at $4.74, but opened at $4.61. Azul shares last traded at $4.63, with a volume of 94,151 shares trading hands.

Analysts Set New Price Targets

AZUL has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on Azul in a report on Friday, May 24th. They set an “equal weight” rating and a $7.40 target price on the stock. Raymond James reaffirmed an “outperform” rating and set a $12.00 target price (down previously from $13.00) on shares of Azul in a report on Monday, April 15th. Bank of America reiterated an “underperform” rating and set a $9.50 price target (down from $18.00) on shares of Azul in a research report on Thursday, April 18th. JPMorgan Chase & Co. cut Azul from an “overweight” rating to a “neutral” rating in a research report on Wednesday. Finally, Barclays dropped their price target on Azul from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Azul currently has a consensus rating of “Hold” and a consensus target price of $11.12.

Azul Price Performance

The firm has a 50-day moving average of $5.24 and a 200 day moving average of $6.85.

Azul (NYSE:AZUL) last posted its earnings results on Monday, May 13th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.04). The company had revenue of $945.00 million during the quarter, compared to analysts’ expectations of $968.17 million. Equities analysts anticipate that Azul S.A. will post -0.81 earnings per share for the current year.

Institutional Trading of Azul

Several large investors have recently added to or reduced their stakes in the business. Inspire Advisors LLC boosted its stake in shares of Azul by 19.4% during the 1st quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock worth $145,000 after acquiring an additional 3,042 shares in the last quarter. Coronation Fund Managers Ltd. boosted its position in shares of Azul by 16.0% in the first 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. Dynamic Technology Lab Private Ltd boosted 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 purchasing an additional 21,549 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Azul during the fourth quarter valued at $214,000. Finally, Quantbot Technologies LP boosted 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 purchasing an additional 24,054 shares during the last quarter. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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.