Azul (NYSE:AZUL) Shares Gap Up to $2.76

Azul S.A. (NYSE:AZUL - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $2.76, but opened at $3.03. Azul shares last traded at $3.15, with a volume of 612,730 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AZUL shares. Barclays decreased 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 note on Monday, August 19th. HSBC lowered shares of Azul from a "buy" rating to a "hold" rating and set a $2.70 target price for the company. in a research report on Thursday, September 5th. The Goldman Sachs Group cut shares of Azul from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $6.70 to $4.00 in a research note on Monday. JPMorgan Chase & Co. lowered Azul from an "overweight" rating to a "neutral" rating in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Azul from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Azul currently has an average rating of "Hold" and a consensus price target of $6.59.

Azul Stock Up 10.5 %

The company has a 50 day simple moving average of $3.55 and a two-hundred day simple moving average of $5.15. The company has a market capitalization of $1.29 billion, a P/E ratio of -1.25 and a beta of 1.97.

Azul (NYSE:AZUL - Get Free Report) last released its quarterly earnings results on Monday, August 12th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.63). The company had revenue of $800.65 million during the quarter, compared to the consensus estimate of $791.43 million. During the same quarter in the previous year, the firm earned ($0.81) EPS. As a group, research analysts expect that Azul S.A. will post -1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Azul

Several institutional investors have recently made changes to their positions in the company. Coronation Fund Managers Ltd. grew its position in Azul by 9.5% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company's stock valued at $109,000 after acquiring an additional 2,380 shares during the last quarter. Signaturefd LLC increased its stake in Azul by 35.9% in the 2nd 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 period. Inspire Advisors LLC increased its stake in Azul by 19.4% in the 1st quarter. Inspire Advisors LLC now owns 18,699 shares of the company's stock worth $145,000 after buying an additional 3,042 shares during the period. Sanctuary Advisors LLC bought a new stake in Azul during the 2nd quarter valued at about $51,000. Finally, Quantbot Technologies LP boosted its position in Azul by 310.0% in the 1st quarter. Quantbot Technologies LP now owns 31,813 shares of the company's stock valued at $247,000 after buying an additional 24,054 shares during the period. Institutional investors own 0.82% of the company's stock.

Azul Company Profile

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.