Azul's (AZUL) Outperform Rating Reaffirmed at Raymond James

Azul (NYSE:AZUL - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Raymond James in a report released on Monday, Benzinga reports. They currently have a $12.00 target price on the stock, down from their prior target price of $13.00. Raymond James' price target indicates a potential upside of 92.15% from the company's current price.

Separately, Barclays cut their price target on Azul from $14.00 to $12.00 and set an "equal weight" rating for the company in a report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.56.

Azul Stock Down 4.9 %

Shares of Azul stock traded down $0.33 during mid-day trading on Monday, reaching $6.25. 3,639,972 shares of the stock traded hands, compared to its average volume of 1,458,809. The business has a 50-day moving average of $7.61 and a 200 day moving average of $8.45. Azul has a fifty-two week low of $5.80 and a fifty-two week high of $13.86. The stock has a market capitalization of $2.63 billion, a PE ratio of -6.71 and a beta of 1.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AZUL. Capital Research Global Investors boosted its position in shares of Azul by 3.0% during the first quarter. Capital Research Global Investors now owns 13,032,134 shares of the company's stock worth $196,134,000 after buying an additional 374,935 shares during the period. Frontier Capital Management Co. LLC boosted its position in shares of Azul by 296.8% during the first quarter. Frontier Capital Management Co. LLC now owns 4,384,995 shares of the company's stock worth $31,353,000 after buying an additional 3,280,010 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of Azul by 551.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 2,339,760 shares of the company's stock worth $14,296,000 after buying an additional 1,980,852 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Azul by 293.1% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,040,666 shares of the company's stock worth $7,441,000 after buying an additional 775,936 shares during the period. Finally, U S Global Investors Inc. boosted its position in shares of Azul by 23.9% during the third quarter. U S Global Investors Inc. now owns 892,462 shares of the company's stock worth $7,666,000 after buying an additional 172,348 shares during the period. 0.82% of the stock is currently owned by hedge funds and other institutional investors.

About Azul

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.