Azul S.A. (NYSE:AZUL – Get Rating) shares gapped down prior to trading on Wednesday after Barclays downgraded the stock from an equal weight rating to an underweight rating. The stock had previously closed at $6.84, but opened at $6.54. Barclays now has a $7.00 price target on the stock, down from their previous price target of $17.00. Azul shares last traded at $6.54, with a volume of 59,227 shares changing hands.
AZUL has been the subject of several other reports. Seaport Res Ptn raised Azul from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 26th. The Goldman Sachs Group cut their price objective on Azul from $15.40 to $9.90 and set a “neutral” rating for the company in a report on Tuesday. Finally, Raymond James lowered their target price on Azul from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, April 25th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Azul has a consensus rating of “Hold” and an average target price of $19.12.
Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in Azul in the 4th quarter worth about $6,225,000. Long Focus Capital Management LLC bought a new position in Azul in the fourth quarter worth approximately $5,610,000. FirstPurpose Wealth LLC bought a new position in shares of Azul in the fourth quarter valued at approximately $224,000. Seven Eight Capital LP bought a new position in shares of Azul in the fourth quarter valued at approximately $332,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Azul by 16.2% during the fourth quarter. BNP Paribas Arbitrage SA now owns 10,813 shares of the company’s stock worth $143,000 after acquiring an additional 1,506 shares during the period. Hedge funds and other institutional investors own 1.60% of the company’s stock.
The company has a market cap of $2.74 billion, a P/E ratio of 8.44 and a beta of 1.41. The company has a 50 day moving average of $10.63 and a 200-day moving average of $13.10.
Azul (NYSE:AZUL – Get Rating) last released its earnings results on Monday, May 9th. The company reported ($1.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.07. The company had revenue of $610.94 million during the quarter, compared to the consensus estimate of $638.50 million. On average, equities analysts forecast that Azul S.A. will post -2.06 EPS for the current fiscal year.
About Azul (NYSE:AZUL)
Azul SA, together with its subsidiaries, provides passenger and cargo transportation services in Brazil. As of December 31, 2021, the company operated 850 daily departures to 125 destinations through a network of 259 non-stop routes with a fleet of 179 aircraft. It is also involved in the loyalty programs, travel packages, investment fund, logistics solutions, and aircraft financing activities.