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 research note released on Thursday morning,Zacks.com reports.

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

Azul Stock Down 0.2 %

Shares of Azul stock opened at $2.35 on Thursday. Azul has a 12-month low of $1.57 and a 12-month high of $8.73. The stock has a 50 day moving average price of $2.17 and a two-hundred day moving average price of $3.06. The stock has a market capitalization of $988.58 million, a P/E ratio of -0.33 and a beta of 1.95.

Institutional Trading of Azul

Several institutional investors have recently modified their holdings of the company. Marshall Wace LLP lifted its holdings in shares of Azul by 2,466.5% during the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock worth $2,395,000 after acquiring an additional 575,344 shares during the period. Long Focus Capital Management LLC boosted its holdings in Azul by 106.3% during the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock valued at $17,816,000 after purchasing an additional 2,295,000 shares in the last quarter. SPX Gestao de Recursos Ltda grew its stake in shares of Azul by 13,831.7% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock valued at $1,170,000 after purchasing an additional 290,465 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Azul in the 2nd quarter worth approximately $51,000. Finally, Perpetual Ltd lifted its position in shares of Azul by 4.5% during the 3rd quarter. Perpetual Ltd now owns 2,354,953 shares of the company’s stock worth $8,101,000 after buying an additional 100,639 shares during the period. Institutional investors and hedge funds 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.