Azul (NYSE:AZUL) Rating Increased to Strong-Buy at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Azul (NYSE:AZUL) from a hold rating to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

Separately, The Goldman Sachs Group decreased their target price on Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Azul currently has a consensus rating of “Hold” and an average target price of $6.40.

Azul Trading Down 0.2 %

NYSE:AZUL opened at $2.35 on Thursday. The stock has a market capitalization of $988.58 million, a P/E ratio of -0.33 and a beta of 1.95. Azul has a 1 year low of $1.57 and a 1 year high of $8.73. The firm has a 50 day moving average of $2.17 and a 200-day moving average of $3.06.

Hedge Funds Weigh In On Azul

Several large investors have recently made changes to their positions in the company. Creative Planning acquired a new position in Azul in the third quarter valued at approximately $35,000. Ground Swell Capital LLC bought a new stake in shares of Azul during the 3rd quarter valued at $44,000. Sanctuary Advisors LLC acquired a new position in shares of Azul in the 2nd quarter valued at $51,000. Inspire Advisors LLC boosted its position in shares of Azul by 84.0% in the 3rd quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock worth $142,000 after purchasing an additional 18,861 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Azul by 58.9% during the third quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after purchasing an additional 75,291 shares during the period. Institutional investors and hedge funds 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.