Azul (NYSE:AZUL) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Azul (NYSE:AZUL) to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

Several other research analysts also recently issued reports on AZUL. 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. Barclays cut their price target on Azul from $10.00 to $4.50 and set an equal weight rating for the company in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on Azul from $8.00 to $6.00 and set a buy rating on the stock in a research report on Tuesday, August 13th. HSBC cut Azul from a buy rating to a hold rating and set a $2.70 target price for the company. in a research report on Thursday. Finally, JPMorgan Chase & Co. downgraded shares of Azul from an overweight rating to a neutral rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $8.23.

Azul Price Performance

Shares of NYSE:AZUL opened at $2.50 on Thursday. The stock has a market capitalization of $1.05 billion, a P/E ratio of -1.02 and a beta of 1.97. The business has a 50-day moving average of $4.08 and a two-hundred day moving average of $5.63. Azul has a fifty-two week low of $2.25 and a fifty-two week high of $11.26.

Azul (NYSE:AZUL) last posted its earnings results 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 company had revenue of $800.65 million during the quarter, compared to analysts’ expectations of $791.43 million. During the same period in the prior year, the business posted ($0.81) EPS. As a group, research analysts expect that Azul will post -1.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Azul

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in shares of Azul in the second quarter valued at $51,000. SPX Gestao de Recursos Ltda grew its position in shares of Azul by 13,831.7% during the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock worth $1,170,000 after buying an additional 290,465 shares during the period. Long Focus Capital Management LLC boosted its stake in Azul by 106.3% in the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock valued at $17,816,000 after acquiring an additional 2,295,000 shares during the last quarter. Marshall Wace LLP raised its position in shares of Azul by 2,466.5% during the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after acquiring an additional 575,344 shares during the last quarter. Finally, Inspire Advisors LLC raised its position in shares of Azul by 20.1% during the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock valued at $90,000 after acquiring an additional 3,764 shares during the last quarter. Institutional investors and hedge funds own 0.82% of the company’s stock.

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.