Azul (NYSE:AZUL) Price Target Lowered to $5.00 at Raymond James

Azul (NYSE:AZUL) had its price objective dropped by Raymond James from $6.00 to $5.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 119.78% from the stock’s current price.

Several other analysts have also issued reports on AZUL. The Goldman Sachs Group reduced their target price on shares of Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Seaport Res Ptn upgraded shares of Azul from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.40.

Azul Trading Down 1.5 %

AZUL traded down $0.04 during trading on Tuesday, reaching $2.28. 298,631 shares of the company’s stock were exchanged, compared to its average volume of 1,256,586. The stock has a market capitalization of $959.07 million, a PE ratio of -0.32 and a beta of 1.99. Azul has a one year low of $1.57 and a one year high of $8.73. The firm has a fifty day moving average price of $2.11 and a two-hundred day moving average price of $2.87.

Institutional Investors Weigh In On Azul

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trellis Wealth Advisors LLC purchased a new position in Azul during the fourth quarter worth $32,000. Van ECK Associates Corp increased its holdings in shares of Azul by 16.3% during the fourth quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock valued at $106,000 after acquiring an additional 8,899 shares in the last quarter. Perpetual Ltd boosted its position in Azul by 5.1% in the 4th quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock worth $4,132,000 after purchasing an additional 119,023 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Azul during the 3rd quarter valued at approximately $614,000. Finally, Jane Street Group LLC lifted its position in shares of Azul by 58.9% during the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock valued at $699,000 after buying an additional 75,291 shares in the last quarter. Institutional investors own 0.82% of the company’s stock.

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.