Azul (NYSE:AZUL) Price Target Cut to $3.10 by Analysts at The Goldman Sachs Group

Azul (NYSE:AZUL) had its price target decreased by The Goldman Sachs Group from $3.60 to $3.10 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 77.14% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. HSBC downgraded Azul from a “buy” rating to a “hold” rating and set a $2.70 price target for the company. in a report on Thursday, September 5th. Seaport Res Ptn downgraded shares of Azul from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Hsbc Global Res raised Azul to a “hold” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Azul currently has a consensus rating of “Hold” and an average target price of $6.46.

Azul Price Performance

AZUL traded up $0.06 during trading on Thursday, reaching $1.75. The company had a trading volume of 717,156 shares, compared to its average volume of 1,933,377. Azul has a 12 month low of $1.66 and a 12 month high of $10.36. The business’s fifty day moving average price is $2.69 and its 200 day moving average price is $3.51. The company has a market cap of $737.75 million, a P/E ratio of -0.25 and a beta of 1.92.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Creative Planning purchased a new position in shares of Azul during the 3rd quarter worth approximately $35,000. Signaturefd LLC lifted its holdings in shares of Azul by 35.9% in the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock valued at $43,000 after purchasing an additional 2,812 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in Azul during the third quarter worth approximately $44,000. Sanctuary Advisors LLC purchased a new position in Azul during the second quarter worth approximately $51,000. Finally, Inspire Advisors LLC raised its position in shares of Azul by 20.1% in the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after buying an additional 3,764 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 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.