JPMorgan Chase & Co. downgraded Azul (NYSE:AZUL) to Neutral.

Azul (NYSE:AZUL – Get Free Report) Equity research analysts at JPMorgan Chase & Co. lowered the rating from “overweight” to “neutral” in a note to investors on Wednesday, Briefing.com reports.

Several other equities analysts have also recently issued reports on AZUL. Morgan Stanley initiated coverage of Azul in a report on Friday, May 24th. They set an “equal weight” rating and a $7.40 price target for the stock. Raymond James reiterated an “outperform” rating and set a $12.00 price target (up from $13.00) for shares of Azul in a report on Monday, April 15th. Bank of America reissued an “underperform” rating and set a $9.50 price target (up from $18.00) for shares of Azul in a report on Thursday, April 18th. Finally, Barclays lowered their price target for Azul from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, May 15th. One investment analyst has rated the stock a “sell,” three have given the company a “hold” rating, and three have given a “buy” rating. The company currently has an average rating of “hold” and a consensus price target of $11.12, according to data from MarketBeat.com.

See our latest analysis of AZUL

Azul Trading up 3.2%

NYSE:AZUL opened at $4.82 on Wednesday. Azul has a twelve-month low of $3.70 and a twelve-month high of $12.25. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -1.98 and a beta of 2.01. The company’s 50 day simple moving average is $5.29 and its 200-day simple moving average is $6.88.

Azul (NYSE:AZUL – Get Free Report) last released its earnings results on Monday, May 13. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.04). The company had revenue of $945.00 million for the quarter, compared to the consensus estimate of $968.17 million. Analysts, on average, predict that Azul will post -0.81 earnings per share for the current year.

Hedge funds rate Azul

A number of institutional investors and hedge funds have recently added to or reduced their holdings in AZUL. Dynamic Technology Lab Private Ltd increased its holdings in shares of Azul by 46.4% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock worth $659,000 after purchasing an additional 21,549 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Azul in the fourth quarter worth $214,000. US Global Investors Inc. increased its holdings in shares of Azul by 10.4% in the first quarter. US Global Investors Inc. now owns 874,798 shares of the company’s stock worth $6,797,000 after purchasing an additional 82,077 shares during the period. Coronation Fund Managers Ltd. increased its holdings in Azul by 16.0% in the first quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock valued at $194,000 after purchasing an additional 3,450 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in Azul by 310.0% during the first quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock valued at $247,000 after purchasing an additional 24,054 shares during the period. 0.82% of the stock is owned by institutional investors.

About Azul

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Azul S.A., 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 via a network of 300 non-stop routes, with an operational fleet of 183 aircraft and a contract passenger fleet of 189 aircraft.

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