Azul SA (NASDAQ:AZUL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Azul SA is a holding company for the providers of airline passenger and cargo services. Azul SA is headquartered in Barueri, Brazil. “

A number of other equities analysts have also issued reports on the company. Buckingham Research increased their price target on Azul SA from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, August 7th. J P Morgan Chase & Co started coverage on Azul SA in a research note on Monday, May 15th. They set an “overweight” rating for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $31.25.

Shares of Azul SA (NASDAQ:AZUL) traded up 0.04% on Thursday, hitting $26.70. The company’s stock had a trading volume of 133,275 shares. Azul SA has a 1-year low of $19.43 and a 1-year high of $26.96. The firm has a market cap of $2.94 billion and a PE ratio of 94.68. The company has a 50 day moving average of $25.52 and a 200 day moving average of $23.55.

Azul SA (NASDAQ:AZUL) last issued its quarterly earnings results on Monday, August 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.11. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.75 billion. Azul SA had a negative net margin of 1.97% and a negative return on equity of 8.12%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. Equities analysts forecast that Azul SA will post $0.43 EPS for the current year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. bought a new stake in shares of Azul SA during the 2nd quarter worth $101,000. Frontier Capital Management Co. LLC bought a new stake in shares of Azul SA during the 2nd quarter worth $128,000. CNH Partners LLC bought a new stake in shares of Azul SA during the 2nd quarter worth $316,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Azul SA during the 2nd quarter worth $341,000. Finally, Brighton Jones LLC bought a new stake in shares of Azul SA during the 2nd quarter worth $358,000.

About Azul SA

Azul SA is a Brazil-based company engaged in the provision of passenger transportation services. The Company primarily acts as an airline operator under the Azul brand name. The Company provides scheduled flights between numerous cities in Brazil, including Sao Paulo, Brasilia, Rio de Janeiro, Belo Horizonte, Porto Alegre, Curitiba, Manaus, Cuiaba, Fortaleza and Salvador, among others.

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