Azul (NYSE:AZUL) Earns Outperform Rating from Raymond James

Raymond James reaffirmed their outperform rating on shares of Azul (NYSE:AZUL) in a report issued on Monday morning, Benzinga reports. Raymond James currently has a $12.00 price objective on the stock, down from their prior price objective of $13.00.

Separately, Barclays decreased their price target on Azul from $14.00 to $12.00 and set an equal weight rating for the company in a research note on Monday, April 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $12.56.

Azul Stock Performance

NYSE:AZUL opened at $6.05 on Monday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -6.51 and a beta of 1.85. Azul has a one year low of $5.66 and a one year high of $13.86. The stock has a 50-day simple moving average of $7.53 and a 200 day simple moving average of $8.42.

Hedge Funds Weigh In On Azul

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Landscape Capital Management L.L.C. boosted its stake in Azul by 151.3% in the third quarter. Landscape Capital Management L.L.C. now owns 146,654 shares of the company’s stock valued at $1,260,000 after acquiring an additional 88,286 shares during the period. Canada Pension Plan Investment Board acquired a new position in Azul in the third quarter valued at approximately $4,712,000. Schonfeld Strategic Advisors LLC acquired a new position in Azul in the third quarter valued at approximately $4,999,000. AXQ Capital LP acquired a new position in Azul in the third quarter valued at approximately $205,000. Finally, Van ECK Associates Corp boosted its stake in Azul by 4.1% in the third quarter. Van ECK Associates Corp now owns 76,731 shares of the company’s stock valued at $659,000 after acquiring an additional 3,005 shares during the period. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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.