Azul (NYSE:AZUL) Downgraded by HSBC to “Hold”

HSBC downgraded shares of Azul (NYSE:AZUL) from a buy rating to a hold rating in a research report sent to investors on Thursday, Marketbeat.com reports. The firm currently has $2.70 price target on the stock.

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

Azul Trading Down 7.2 %

AZUL opened at $2.32 on Thursday. The firm has a market cap of $978.04 million, a price-to-earnings 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. The stock has a fifty day moving average price of $4.05 and a 200-day moving average price of $5.58.

Azul (NYSE:AZUL) last released its quarterly earnings results on Monday, August 12th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate 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 last year, the firm posted ($0.81) earnings per share. On average, equities research analysts forecast that Azul will post -1.45 EPS for the current year.

Institutional Trading of Azul

Hedge funds have recently modified their holdings of the stock. Aigen Investment Management LP purchased a new position in Azul during the fourth quarter valued at approximately $214,000. Quantbot Technologies LP increased its holdings in shares of Azul by 310.0% during the 1st 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 in the last quarter. Coronation Fund Managers Ltd. lifted its stake in shares of Azul by 16.0% in 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 during the period. Dynamic Technology Lab Private Ltd boosted its holdings in 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 buying an additional 21,549 shares in the last quarter. Finally, Inspire Advisors LLC boosted its holdings in Azul by 19.4% during the first quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock worth $145,000 after buying an additional 3,042 shares in the last quarter. Hedge funds and other institutional investors 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.