Azul (NYSE:AZUL) Price Target Cut to $2.40 by Analysts at The Goldman Sachs Group

Azul (NYSE:AZUL) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $2.70 to $2.40 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 36.75% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Raymond James decreased their price target on Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Seaport Res Ptn lowered shares of Azul from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.36.

Azul Price Performance

Shares of AZUL stock opened at $1.76 on Tuesday. The firm’s 50-day simple moving average is $1.99 and its 200-day simple moving average is $2.36. Azul has a 1-year low of $1.57 and a 1-year high of $8.65. The firm has a market cap of $739.86 million, a P/E ratio of -0.25 and a beta of 1.98.

Institutional Investors Weigh In On Azul

A number of hedge funds and other institutional investors have recently modified their holdings of AZUL. Trellis Wealth Advisors LLC bought a new stake in shares of Azul during the 4th quarter worth about $32,000. Arrowstreet Capital Limited Partnership bought a new stake in Azul during the fourth quarter worth approximately $42,000. Two Sigma Securities LLC lifted its position in Azul by 44.6% in the fourth quarter. Two Sigma Securities LLC now owns 29,311 shares of the company’s stock worth $49,000 after purchasing an additional 9,038 shares during the period. Inspire Advisors LLC lifted its position in Azul by 16.6% in the fourth quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock worth $80,000 after purchasing an additional 6,844 shares during the period. Finally, Marshall Wace LLP bought a new position in Azul during the 4th quarter valued at $87,000. 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.