Azul (NYSE:AZUL) Earns Outperform Rating from Raymond James

Raymond James reissued their outperform rating on shares of Azul (NYSE:AZUL) in a research note released on Monday, Benzinga reports. The brokerage currently has a $12.00 price objective on the stock, down from their prior price objective of $13.00.

Separately, Barclays decreased their price target on shares of Azul from $14.00 to $12.00 and set an equal weight rating on the stock in a research note on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Azul has an average rating of Moderate Buy and an average target price of $12.56.

Azul Price Performance

AZUL opened at $6.05 on Monday. Azul has a one year low of $5.66 and a one year high of $13.86. The company’s 50 day simple moving average is $7.53 and its 200-day simple moving average is $8.42. The stock has a market capitalization of $2.55 billion, a P/E ratio of -6.51 and a beta of 1.85.

Hedge Funds Weigh In On Azul

Large investors have recently bought and sold shares of the business. UBS Group AG lifted its holdings in Azul by 930.7% in the second quarter. UBS Group AG now owns 3,628 shares of the company’s stock valued at $26,000 after buying an additional 3,276 shares during the period. US Bancorp DE raised its holdings in Azul by 721.4% in the second quarter. US Bancorp DE now owns 1,922 shares of the company’s stock worth $26,000 after purchasing an additional 1,688 shares during the period. Tower Research Capital LLC TRC raised its holdings in Azul by 3,578.9% in the third quarter. Tower Research Capital LLC TRC now owns 3,495 shares of the company’s stock worth $30,000 after purchasing an additional 3,400 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Azul by 66.7% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,000 shares of the company’s stock worth $42,000 after purchasing an additional 2,000 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in Azul by 18.0% in the second quarter. BNP Paribas Arbitrage SA now owns 9,746 shares of the company’s stock worth $69,000 after purchasing an additional 1,487 shares during the period. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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.