Azul (NYSE:AZUL) Stock Price Down 5.8% – Here’s Why

Shares of Azul S.A. (NYSE:AZUL) fell 5.8% on Friday . The stock traded as low as $2.74 and last traded at $2.74. 721,061 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,993,088 shares. The stock had previously closed at $2.91.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. The Goldman Sachs Group cut shares of Azul from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $6.70 to $4.00 in a research report on Monday, September 23rd. HSBC lowered shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 price objective on the stock. in a report on Thursday, September 5th. JPMorgan Chase & Co. lowered Azul from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 10th. Finally, Barclays cut their price target on Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.59.

Azul Stock Down 7.2 %

The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -0.28 and a beta of 1.99. The business has a 50-day moving average price of $3.02 and a 200-day moving average price of $4.31.

Azul (NYSE:AZUL) last released its quarterly earnings results on Monday, August 12th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.63). The business 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 business posted ($0.81) EPS. On average, equities research analysts forecast that Azul S.A. will post -1.75 earnings per share for the current year.

Institutional Investors Weigh In On Azul

A number of large investors have recently made changes to their positions in the stock. Creative Planning purchased a new stake in shares of Azul in the 3rd quarter valued at $35,000. Signaturefd LLC boosted its stake in shares of Azul by 35.9% in the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after buying an additional 2,812 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in Azul during the third quarter worth about $44,000. Sanctuary Advisors LLC purchased a new position in Azul during the second quarter valued at approximately $51,000. Finally, Inspire Advisors LLC lifted its holdings in Azul by 19.4% in the first quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock valued at $145,000 after acquiring an additional 3,042 shares during the period. 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.