Azul (NYSE:AZUL) Stock Rating Reaffirmed by Bank of America

Azul (NYSE:AZUL)‘s stock had its “underperform” rating restated by Bank of America in a note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $9.50 target price on the stock, down from their previous target price of $18.00. Bank of America‘s price target indicates a potential upside of 64.36% from the stock’s previous close.

AZUL has been the topic of a number of other research reports. Raymond James restated an “outperform” rating and set a $12.00 price objective (down previously from $13.00) on shares of Azul in a research note on Monday, April 15th. Barclays dropped their price target on Azul from $14.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.26.

Azul Stock Down 0.3 %

Shares of NYSE:AZUL opened at $5.78 on Thursday. Azul has a 12-month low of $5.57 and a 12-month high of $13.86. The company’s 50 day moving average price is $7.47 and its two-hundred day moving average price is $8.39. The firm has a market cap of $2.44 billion, a PE ratio of -6.21 and a beta of 1.85.

Institutional Investors Weigh In On Azul

Large investors have recently modified their holdings of the business. Advisor Group Holdings Inc. lifted its position in shares of Azul by 83.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,630 shares of the company’s stock worth $151,000 after buying an additional 1,200 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of 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 acquiring an additional 1,487 shares during the last quarter. US Bancorp DE boosted its stake in shares of Azul by 721.4% in the 2nd quarter. US Bancorp DE now owns 1,922 shares of the company’s stock valued at $26,000 after purchasing an additional 1,688 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Azul by 9.0% during the 2nd quarter. BlackRock Inc. now owns 23,570 shares of the company’s stock valued at $323,000 after purchasing an additional 1,941 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Azul by 66.7% during the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.