Azul (NYSE:AZUL) Cut to “Market Perform” at Raymond James

Raymond James lowered shares of Azul (NYSE:AZUL) from an outperform rating to a market perform rating in a research note published on Thursday, MarketBeat Ratings reports.

A number of other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group dropped their price objective on Azul from $2.70 to $2.40 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Seaport Res Ptn downgraded Azul from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.00.

Azul Stock Down 2.5%

NYSE:AZUL opened at $0.55 on Thursday. Azul has a 52 week low of $0.48 and a 52 week high of $6.29. The stock’s fifty day moving average is $1.32 and its two-hundred day moving average is $1.87. The company has a market capitalization of $230.18 million, a P/E ratio of -0.08 and a beta of 1.88.

Azul (NYSE:AZUL) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($2.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($2.21). The company had revenue of $923.68 million during the quarter, compared to analysts’ expectations of $5.31 billion. Sell-side analysts anticipate that Azul will post -1.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AZUL. Perpetual Ltd boosted its holdings in Azul by 5.1% during the fourth quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock worth $4,132,000 after buying an additional 119,023 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Azul by 16.3% during the 4th quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock worth $106,000 after acquiring an additional 8,899 shares in the last quarter. Trellis Wealth Advisors LLC acquired a new stake in shares of Azul in the 4th quarter worth approximately $32,000. Raymond James Financial Inc. purchased a new position in Azul in the 4th quarter valued at approximately $117,000. Finally, Inspire Advisors LLC raised its holdings in Azul by 16.6% during the fourth quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock worth $80,000 after purchasing an additional 6,844 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 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.