Azul (NYSE:AZUL) Sets New 52-Week Low at $5.16

Azul S.A. (NYSE:AZUL) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $5.16 and last traded at $5.30, with a volume of 1088405 shares changing hands. The stock had previously closed at $5.59.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AZUL shares. Raymond James restated an “outperform” rating and set a $12.00 price objective (down previously from $13.00) on shares of Azul in a report on Monday, April 15th. Bank of America restated an “underperform” rating and set a $9.50 price objective (down previously from $18.00) on shares of Azul in a report on Thursday, April 18th. Finally, Barclays decreased their target price on Azul from $14.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.26.

Azul Trading Down 3.9 %

The stock has a market capitalization of $2.26 billion, a P/E ratio of -5.66 and a beta of 1.85. The company has a 50-day moving average price of $7.37 and a 200 day moving average price of $8.35.

Azul (NYSE:AZUL) last announced its earnings results on Thursday, March 28th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.25). The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, research analysts expect that Azul S.A. will post -0.75 earnings per share for the current year.

Institutional Trading of Azul

Several large investors have recently added to or reduced their stakes in AZUL. U S Global Investors Inc. boosted its stake in shares of Azul by 10.4% in the first quarter. U S Global Investors Inc. now owns 874,798 shares of the company’s stock worth $6,797,000 after buying an additional 82,077 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Azul in the third quarter worth about $4,999,000. Canada Pension Plan Investment Board purchased a new stake in shares of Azul in the third quarter worth about $4,712,000. Landscape Capital Management L.L.C. boosted its stake in shares of Azul by 151.3% in the third quarter. Landscape Capital Management L.L.C. now owns 146,654 shares of the company’s stock worth $1,260,000 after buying an additional 88,286 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Azul by 4.1% in the 3rd quarter. Van ECK Associates Corp now owns 76,731 shares of the company’s stock worth $659,000 after purchasing an additional 3,005 shares during the period. Hedge funds and other institutional investors own 0.82% of the company’s stock.

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.