Azul S.A. (NYSE:AZUL) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Azul S.A. (NYSE:AZUL) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $12.26.

AZUL has been the subject of several research analyst reports. Bank of America reiterated an “underperform” rating and set a $9.50 target price (down from $18.00) on shares of Azul in a research note on Thursday, April 18th. Barclays dropped their price target on Azul from $14.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, April 1st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $12.00 price objective (down from $13.00) on shares of Azul in a report on Monday, April 15th.

Azul Stock Performance

NYSE:AZUL opened at $5.60 on Friday. The company has a market cap of $2.36 billion, a PE ratio of -6.02 and a beta of 1.85. Azul has a 52-week low of $5.16 and a 52-week high of $13.86. The stock has a 50-day simple moving average of $7.27 and a 200 day simple moving average of $8.32.

Azul (NYSE:AZUL) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.25). The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. On average, research analysts predict that Azul will post -0.75 earnings per share for the current fiscal year.

Institutional Trading of Azul

Several institutional investors and hedge funds have recently modified their holdings of AZUL. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Azul by 66.7% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,000 shares of the company’s stock valued at $42,000 after acquiring an additional 2,000 shares in the last quarter. Coronation Fund Managers Ltd. bought a new position in shares of Azul in the third quarter valued at approximately $158,000. AXQ Capital LP bought a new position in shares of Azul in the third quarter valued at approximately $205,000. Aigen Investment Management LP bought a new position in shares of Azul in the fourth quarter valued at approximately $214,000. Finally, Privium Fund Management UK Ltd bought a new position in shares of Azul in the third quarter valued at approximately $341,000. 0.82% of the stock is owned by hedge funds and other institutional investors.

About Azul

Azul SA, together with its subsidiaries, provides scheduled air transportation services in Brazil. As of December 31, 2022, the company operated approximately 1,000 daily departures to 158 destinations through a network of 300 non-stop routes with an operating fleet of 177 aircraft and a passenger contractual fleet of 194 aircraft.