Azul (AZUL) Shares Gap Down to $22.95

Azul (NYSE:AZUL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $23.45, but opened at $22.95. Azul shares last traded at $22.66, with a volume of 39946 shares trading hands.

AZUL has been the subject of a number of research reports. Buckingham Research reissued a “buy” rating and set a $38.00 target price (up from $35.00) on shares of Azul in a research report on Friday, March 9th. ValuEngine raised shares of Azul from a “hold” rating to a “buy” rating in a research report on Thursday, April 12th. Zacks Investment Research raised shares of Azul from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Friday, March 9th. Finally, UBS initiated coverage on shares of Azul in a research report on Friday, February 16th. They set a “buy” rating and a $38.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $34.20.

The firm has a market capitalization of $7.19 billion and a P/E ratio of 11.82. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 0.93.

Azul (NYSE:AZUL) last released its quarterly earnings data on Thursday, May 10th. The company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.26. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. Azul had a net margin of 8.40% and a return on equity of 25.52%. Azul’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period last year, the firm earned $0.22 EPS. equities analysts predict that Azul will post 1.82 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AZUL. BlackRock Inc. lifted its stake in Azul by 7.4% in the 1st quarter. BlackRock Inc. now owns 7,616,305 shares of the company’s stock worth $264,667,000 after purchasing an additional 527,979 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Azul by 0.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,681,022 shares of the company’s stock worth $63,889,000 after purchasing an additional 15,597 shares in the last quarter. Federated Investors Inc. PA lifted its stake in Azul by 2.9% in the 1st quarter. Federated Investors Inc. PA now owns 1,224,300 shares of the company’s stock worth $42,544,000 after purchasing an additional 34,100 shares in the last quarter. Standard Life Aberdeen plc purchased a new stake in Azul in the 4th quarter worth approximately $28,581,000. Finally, Oaktree Capital Management LP lifted its stake in Azul by 1.2% in the 4th quarter. Oaktree Capital Management LP now owns 1,168,341 shares of the company’s stock worth $27,841,000 after purchasing an additional 13,600 shares in the last quarter. 3.97% of the stock is owned by institutional investors.

Azul Company Profile

Azul SA operates as an airline company in Brazil. It provides passenger and cargo air transportation services. As of September 30, 2017, the company operated 755 daily flights to 104 destinations through a network of 197 non-stop routes with a fleet of 118 aircraft. Azul SA was incorporated in 2008 and is headquartered in Barueri, Brazil.

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