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

Azul (NYSE:AZUL) had its price objective lowered by stock analysts at The Goldman Sachs Group from $2.70 to $2.40 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 34.45% from the stock’s previous close.

A number of other brokerages also recently weighed in on AZUL. Seaport Res Ptn downgraded Azul from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Raymond James reduced their price objective on shares of Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.36.

Azul Trading Up 0.3 %

Azul stock traded up $0.01 during mid-day trading on Tuesday, hitting $1.79. 235,384 shares of the company’s stock were exchanged, compared to its average volume of 1,908,626. Azul has a 1-year low of $1.57 and a 1-year high of $8.65. The stock has a 50 day moving average of $2.00 and a two-hundred day moving average of $2.37. The stock has a market cap of $752.50 million, a P/E ratio of -0.25 and a beta of 1.98.

Hedge Funds Weigh In On Azul

Several large investors have recently bought and sold shares of the stock. Jane Street Group LLC grew its position in Azul by 58.9% in the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after purchasing an additional 75,291 shares during the last quarter. Perpetual Ltd grew its position in Azul by 5.1% during the fourth quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock worth $4,132,000 after buying an additional 119,023 shares in the last quarter. Inspire Advisors LLC increased its stake in Azul by 16.6% during the fourth quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock valued at $80,000 after acquiring an additional 6,844 shares during the period. Trellis Wealth Advisors LLC acquired a new position in Azul in the 4th quarter valued at approximately $32,000. Finally, Fore Capital LLC bought a new stake in shares of Azul in the 4th quarter worth approximately $167,000. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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.