Azul SA (NYSE:AZUL) dropped 6.7% during mid-day trading on Wednesday . The stock traded as low as $37.64 and last traded at $37.98, approximately 722,669 shares changed hands during mid-day trading. An increase of 29% from the average daily volume of 559,077 shares. The stock had previously closed at $40.71.
AZUL has been the subject of several recent analyst reports. Deutsche Bank upped their target price on shares of Azul from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. UBS Group lowered shares of Azul from a “neutral” rating to a “sell” rating in a research note on Tuesday, June 18th. Barclays set a $46.00 target price on shares of Azul and gave the stock a “hold” rating in a research note on Monday. Buckingham Research lowered shares of Azul from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $53.00 to $39.00 in a research note on Tuesday. Finally, Raymond James upped their target price on shares of Azul from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $39.51.
The company has a market cap of $13.49 billion, a P/E ratio of 23.89 and a beta of -0.65. The business’s 50-day moving average price is $38.77. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.65 and a current ratio of 0.69.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantamental Technologies LLC grew its position in Azul by 237.7% during the first quarter. Quantamental Technologies LLC now owns 1,013 shares of the company’s stock valued at $30,000 after buying an additional 713 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Azul by 63.6% during the second quarter. Daiwa Securities Group Inc. now owns 900 shares of the company’s stock valued at $30,000 after purchasing an additional 350 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Azul during the second quarter valued at about $33,000. PNC Financial Services Group Inc. purchased a new stake in Azul during the first quarter valued at about $37,000. Finally, Northern Trust Corp purchased a new stake in Azul during the second quarter valued at about $216,000. Institutional investors own 6.86% of the company’s stock.
About Azul (NYSE:AZUL)
Azul SA provides passenger and cargo air transportation services in Brazil. As of March 31, 2018, it operated 739 daily flights to 106 destinations through a network of 206 non-stop routes with a fleet of 120 aircraft. The company was incorporated in 2008 and is headquartered in Barueri, Brazil.
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