HSBC Lowers Azul (NYSE:AZUL) to Hold

HSBC lowered shares of Azul (NYSE:AZUL) from a buy rating to a hold rating in a report published on Thursday, Marketbeat reports. The firm currently has $2.70 price objective on the stock.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered shares of Azul from an overweight rating to a neutral rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Azul from $8.00 to $6.00 and set a buy rating on the stock in a report on Tuesday, August 13th. Morgan Stanley assumed coverage on shares of Azul in a research report on Friday, May 24th. They set an equal weight rating and a $7.40 target price on the stock. Finally, Barclays dropped their price target on Azul from $10.00 to $4.50 and set an equal weight rating for the company in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $8.23.

Azul Trading Down 7.2 %

NYSE:AZUL opened at $2.32 on Thursday. The stock has a 50-day moving average price of $4.05 and a 200 day moving average price of $5.58. The stock has a market capitalization of $978.04 million, a P/E ratio of -0.95 and a beta of 1.97. Azul has a 12-month low of $2.25 and a 12-month high of $11.26.

Azul (NYSE:AZUL) last announced its quarterly earnings data 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 business had revenue of $800.65 million for the quarter, compared to analyst estimates of $791.43 million. During the same period in the prior year, the business posted ($0.81) earnings per share. On average, research analysts predict that Azul will post -1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Azul

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC boosted its position in Azul by 35.9% in the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock valued at $43,000 after buying an additional 2,812 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Azul in the second quarter valued at approximately $51,000. Inspire Advisors LLC grew its stake in Azul by 19.4% in 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. Aigen Investment Management LP purchased a new position in Azul during the 4th quarter worth $214,000. Finally, Coronation Fund Managers Ltd. raised its position in 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 purchasing an additional 3,450 shares in the last quarter. 0.82% of the stock is owned by institutional investors.

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.