Azul (NYSE:AZUL) Research Coverage Started at Morgan Stanley

Investment analysts at Morgan Stanley assumed coverage on shares of Azul (NYSE:AZUL) in a research note issued to investors on Friday, Benzinga reports. The firm set an “equal weight” rating and a $7.40 price target on the stock. Morgan Stanley’s price target points to a potential upside of 20.92% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Raymond James reaffirmed an “outperform” rating and set a $12.00 target price (down from $13.00) on shares of Azul in a report on Monday, April 15th. Barclays decreased their target price on Azul from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 15th. Finally, Bank of America reissued an “underperform” rating and set a $9.50 price target (down previously from $18.00) on shares of Azul in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.12.

Azul Stock Up 7.9 %

Shares of NYSE AZUL traded up $0.45 during trading on Friday, reaching $6.12. The company had a trading volume of 1,342,541 shares, compared to its average volume of 1,562,254. The business’s 50-day moving average is $6.81 and its 200 day moving average is $8.10. The stock has a market cap of $2.58 billion, a PE ratio of -2.51 and a beta of 1.94. Azul has a 12-month low of $5.16 and a 12-month high of $13.86.

Azul (NYSE:AZUL) last posted its earnings results on Thursday, March 28th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.25). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. On average, analysts anticipate that Azul will post -0.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC bought a new stake in shares of Azul in the 3rd quarter worth about $4,999,000. Canada Pension Plan Investment Board purchased a new position in shares of Azul during the third quarter valued at approximately $4,712,000. Landscape Capital Management L.L.C. raised its holdings 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 period. U S Global Investors Inc. lifted its stake in shares of Azul by 10.4% during the 1st quarter. U S Global Investors Inc. now owns 874,798 shares of the company’s stock worth $6,797,000 after acquiring an additional 82,077 shares during the last quarter. Finally, Privium Fund Management UK Ltd purchased a new position in Azul during the 3rd quarter valued at $341,000. 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.