Azul (NYSE:AZUL) Shares Gap Up - Should You Buy?

Azul S.A. (NYSE:AZUL - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $3.19, but opened at $3.64. Azul shares last traded at $3.79, with a volume of 568,752 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently commented on AZUL. The Goldman Sachs Group cut Azul from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $6.70 to $4.00 in a research report on Monday, September 23rd. HSBC downgraded shares of Azul from a "buy" rating to a "hold" rating and set a $2.70 price target on the stock. in a research note on Thursday, September 5th. Hsbc Global Res upgraded Azul to a "hold" rating in a report on Thursday, September 5th. Barclays reduced their price objective on Azul from $10.00 to $4.50 and set an "equal weight" rating on the stock in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. lowered Azul from an "overweight" rating to a "neutral" rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $6.59.

Azul Stock Performance

The business has a 50-day moving average of $3.41 and a 200-day moving average of $4.88. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -1.39 and a beta of 1.98.

Azul (NYSE:AZUL - Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.63). The firm had revenue of $800.65 million for the quarter, compared to analysts' expectations of $791.43 million. During the same quarter in the prior year, the company posted ($0.81) EPS. Equities analysts predict that Azul S.A. will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Azul

Institutional investors have recently modified their holdings of the company. Long Focus Capital Management LLC lifted its holdings in Azul by 106.3% during the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company's stock worth $17,816,000 after buying an additional 2,295,000 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Azul by 2,466.5% in the second quarter. Marshall Wace LLP now owns 598,670 shares of the company's stock valued at $2,395,000 after acquiring an additional 575,344 shares in the last quarter. SPX Gestao de Recursos Ltda boosted its holdings in Azul by 13,831.7% in the second quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company's stock valued at $1,170,000 after purchasing an additional 290,465 shares during the period. Quantbot Technologies LP increased its holdings in Azul by 310.0% during the 1st quarter. Quantbot Technologies LP now owns 31,813 shares of the company's stock worth $247,000 after purchasing an additional 24,054 shares during the period. Finally, Coronation Fund Managers Ltd. raised 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 purchasing an additional 2,380 shares in the last quarter. 0.82% of the stock is owned by institutional investors and hedge funds.

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.