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

Shares of Azul S.A. (NYSE:AZUL) gapped down before the market opened 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.

Wall Street Analyst Weigh In

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

Azul Stock Down 2.1 %

The firm’s 50-day moving average price is $5.24 and its 200-day moving average price is $6.85.

Azul (NYSE:AZUL) last released its quarterly 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 analyst estimates of $968.17 million. Research analysts forecast that Azul S.A. will post -0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AZUL. U S Global Investors Inc. increased 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 acquiring an additional 82,077 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Azul by 310.0% in the first quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock worth $247,000 after buying an additional 24,054 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Azul during the fourth quarter worth approximately $214,000. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Azul by 46.4% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock worth $659,000 after purchasing an additional 21,549 shares during the period. Finally, Coronation Fund Managers Ltd. boosted its holdings in shares of Azul by 16.0% during the first quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock worth $194,000 after purchasing an additional 3,450 shares during the period. 0.82% of the stock is currently 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.