The Goldman Sachs Group Issues Pessimistic Forecast for Azul (NYSE:AZUL) Stock Price

Azul (NYSE:AZUL) had its price target dropped by investment analysts at The Goldman Sachs Group from $3.10 to $2.70 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 19.47% from the stock’s previous close.

Separately, Seaport Res Ptn cut Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Azul presently has an average rating of “Hold” and a consensus target price of $6.40.

Azul Trading Up 4.6 %

Azul stock traded up $0.10 during mid-day trading on Thursday, hitting $2.26. The stock had a trading volume of 1,120,494 shares, compared to its average volume of 1,096,897. The firm’s 50 day moving average is $2.18 and its 200 day moving average is $3.08. The firm has a market capitalization of $952.75 million, a P/E ratio of -0.32 and a beta of 1.95. Azul has a one year low of $1.57 and a one year high of $8.73.

Institutional Trading of Azul

Hedge funds have recently modified their holdings of the company. SPX Gestao de Recursos Ltda increased its position in Azul by 13,831.7% in the second quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock worth $1,170,000 after purchasing an additional 290,465 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Azul by 58.9% in the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after buying an additional 75,291 shares in the last quarter. Long Focus Capital Management LLC increased its holdings in shares of Azul by 106.3% in the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock worth $17,816,000 after buying an additional 2,295,000 shares during the last quarter. Marshall Wace LLP raised its position in shares of Azul by 2,466.5% during the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after buying an additional 575,344 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Azul in the 3rd quarter valued at about $35,000. 0.82% of the stock is owned by hedge funds and other institutional investors.

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.