Azul (NYSE:AZUL) Shares Gap Up – What’s Next?

Azul S.A. (NYSE:AZUL) gapped up prior to trading on Monday . The stock had previously closed at $2.80, but opened at $3.06. Azul shares last traded at $3.11, with a volume of 616,942 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on AZUL shares. The Goldman Sachs Group downgraded Azul from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $6.70 to $4.00 in a report on Monday, September 23rd. Barclays cut their target price on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Hsbc Global Res upgraded shares of Azul to a “hold” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Seaport Res Ptn downgraded shares of Azul from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Azul presently has an average rating of “Hold” and a consensus price target of $6.59.

Azul Stock Up 10.7 %

The company has a 50-day moving average of $3.14 and a 200 day moving average of $4.41. The stock has a market capitalization of $1.31 billion, a PE ratio of -1.27 and a beta of 1.98.

Azul (NYSE:AZUL) last released its earnings results on Monday, August 12th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.63). The firm 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 earned ($0.81) earnings per share. As a group, equities analysts predict that Azul S.A. will post -1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Azul

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Long Focus Capital Management LLC raised its position in Azul by 106.3% in the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock valued at $17,816,000 after purchasing an additional 2,295,000 shares during the period. Marshall Wace LLP lifted its stake in Azul by 2,466.5% in the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock worth $2,395,000 after acquiring an additional 575,344 shares during the last quarter. SPX Gestao de Recursos Ltda grew its holdings in Azul by 13,831.7% during the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock worth $1,170,000 after acquiring an additional 290,465 shares in the last quarter. Perpetual Ltd increased its position in shares of Azul by 4.5% in the 3rd quarter. Perpetual Ltd now owns 2,354,953 shares of the company’s stock valued at $8,101,000 after purchasing an additional 100,639 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Azul in the 3rd quarter valued at $306,000. 0.82% of the stock is owned by hedge funds and other institutional investors.

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.