Seaport Res Ptn Downgrades Azul (NYSE:AZUL) to Hold

Seaport Res Ptn lowered shares of Azul (NYSE:AZUL) from a strong-buy rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. 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. JPMorgan Chase & Co. lowered shares of Azul from an overweight rating to a neutral rating in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reduced their target price 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 lowered shares of Azul from a buy rating to a hold rating and set a $2.70 price objective for the company. in a research report on Thursday, September 5th. Finally, Hsbc Global Res upgraded Azul to a hold rating in a research report on Thursday, September 5th. 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 company’s stock. Based on data from MarketBeat, Azul currently has an average rating of Hold and a consensus price target of $6.59.

Azul Price Performance

Shares of NYSE:AZUL opened at $3.24 on Thursday. The company has a market capitalization of $1.37 billion, a PE ratio of -1.33 and a beta of 1.98. Azul has a 1 year low of $2.02 and a 1 year high of $11.26. The business has a fifty day moving average price of $3.34 and a two-hundred day moving average price of $4.74.

Azul (NYSE:AZUL) last issued 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 the consensus estimate of $791.43 million. During the same period in the previous year, the company earned ($0.81) EPS. Sell-side analysts anticipate that Azul will post -1.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. SPX Gestao de Recursos Ltda increased its position in Azul by 13,831.7% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock valued at $1,170,000 after acquiring an additional 290,465 shares during the period. Long Focus Capital Management LLC increased its holdings in Azul by 106.3% during the 2nd 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 in the last quarter. Quantbot Technologies LP raised 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 acquiring an additional 24,054 shares during the last quarter. Marshall Wace LLP raised its position in shares of Azul by 2,466.5% in the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after buying an additional 575,344 shares during the last quarter. 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 last quarter. Hedge funds and other institutional investors own 0.82% of the company’s stock.

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.