Azul (NYSE:AZUL) Receives “Underperform” Rating from Bank of America

Bank of America reissued their underperform rating on shares of Azul (NYSE:AZUL) in a report issued on Thursday morning, Marketbeat Ratings reports. They currently have a $9.50 target price on the stock, down from their prior target price of $18.00.

AZUL has been the subject of a number of other reports. Raymond James reaffirmed an outperform rating and set a $12.00 price objective (down from $13.00) on shares of Azul in a report on Monday. Barclays dropped their price objective on shares of Azul from $14.00 to $12.00 and set an equal weight rating for the company in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $12.26.

Azul Price Performance

AZUL opened at $5.80 on Thursday. Azul has a one year low of $5.57 and a one year high of $13.86. The firm has a market capitalization of $2.45 billion, a P/E ratio of -6.24 and a beta of 1.85. The company has a fifty day moving average price of $7.50 and a 200-day moving average price of $8.40.

Institutional Trading of Azul

Hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE lifted its stake in Azul by 721.4% in the second quarter. US Bancorp DE now owns 1,922 shares of the company’s stock worth $26,000 after purchasing an additional 1,688 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in Azul by 83.9% in the first quarter. Advisor Group Holdings Inc. now owns 2,630 shares of the company’s stock worth $151,000 after purchasing an additional 1,200 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Azul by 3,578.9% in the third quarter. Tower Research Capital LLC TRC now owns 3,495 shares of the company’s stock worth $30,000 after purchasing an additional 3,400 shares during the last quarter. UBS Group AG lifted its stake in Azul by 930.7% in the second quarter. UBS Group AG now owns 3,628 shares of the company’s stock worth $26,000 after purchasing an additional 3,276 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Azul by 66.7% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,000 shares of the company’s stock valued at $42,000 after acquiring an additional 2,000 shares during the period. 0.82% of the stock is owned by institutional investors.

About Azul

Azul SA, together with its subsidiaries, provides scheduled air transportation services in Brazil. As of December 31, 2022, the company operated approximately 1,000 daily departures to 158 destinations through a network of 300 non-stop routes with an operating fleet of 177 aircraft and a passenger contractual fleet of 194 aircraft.