Azul (NYSE:AZUL) Rating Reiterated by Bank of America

Azul (NYSE:AZUL - Get Free Report)'s stock had its "underperform" rating reissued by equities research analysts at Bank of America in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a $9.50 target price on the stock, down from their previous target price of $18.00. Bank of America's target price would suggest a potential upside of 63.79% from the company's current price.

Several other analysts have also issued reports on AZUL. Raymond James reiterated an "outperform" rating and issued a $12.00 target price (down previously from $13.00) on shares of Azul in a research report on Monday. Barclays lowered their price target on shares of Azul from $14.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Azul currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.26.

Azul Stock Down 4.1 %

Shares of NYSE AZUL traded down $0.25 during trading on Thursday, hitting $5.80. The company had a trading volume of 5,429,841 shares, compared to its average volume of 1,560,276. The stock has a fifty day simple moving average of $7.50 and a two-hundred day simple moving average of $8.40. Azul has a fifty-two week low of $5.57 and a fifty-two week high of $13.86. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -6.24 and a beta of 1.85.

Hedge Funds Weigh In On Azul

A number of institutional investors have recently bought and sold shares of AZUL. UBS Group AG raised its stake in Azul by 930.7% during the second quarter. UBS Group AG now owns 3,628 shares of the company's stock worth $26,000 after purchasing an additional 3,276 shares during the period. US Bancorp DE raised its stake in Azul by 721.4% during the second quarter. US Bancorp DE now owns 1,922 shares of the company's stock worth $26,000 after purchasing an additional 1,688 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Azul by 3,578.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,495 shares of the company's stock valued at $30,000 after acquiring an additional 3,400 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Azul by 66.7% in the 3rd 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 during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Azul by 18.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,746 shares of the company's stock valued at $69,000 after acquiring an additional 1,487 shares during the period. 0.82% of the stock is owned by hedge funds and other institutional investors.

Azul Company Profile

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.