Bank of America Reiterates “Underperform” Rating for Azul (NYSE:AZUL)

Bank of America reissued their underperform rating on shares of Azul (NYSE:AZUL) in a report released on Thursday, MarketBeat.com reports. Bank of America currently has a $9.50 price target on the stock, down from their previous price target of $18.00.

A number of other research analysts also recently commented on AZUL. Barclays cut their target price on shares of Azul from $14.00 to $12.00 and set an equal weight rating on the stock in a research report on Monday, April 1st. Raymond James reissued an outperform rating and set a $12.00 target price (down previously from $13.00) on shares of Azul in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Azul has an average rating of Moderate Buy and a consensus price target of $12.26.

Azul Price Performance

Shares of AZUL opened at $5.80 on Thursday. Azul has a 1-year low of $5.57 and a 1-year high of $13.86. The company has a 50-day moving average of $7.50 and a 200 day moving average of $8.40. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -6.24 and a beta of 1.85.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE grew its position in shares of Azul by 721.4% in the 2nd quarter. US Bancorp DE now owns 1,922 shares of the company’s stock worth $26,000 after buying an additional 1,688 shares during the last quarter. Advisor Group Holdings Inc. grew its position in shares of Azul by 83.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,630 shares of the company’s stock worth $151,000 after buying an additional 1,200 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Azul by 3,578.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,495 shares of the company’s stock worth $30,000 after buying an additional 3,400 shares during the last quarter. UBS Group AG grew its position in shares of Azul by 930.7% in the 2nd quarter. UBS Group AG now owns 3,628 shares of the company’s stock worth $26,000 after buying an additional 3,276 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Azul by 66.7% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,000 shares of the company’s stock worth $42,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 0.82% of the company’s stock.

Azul Company Profile

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.